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U.S. savers most confident in retirement, but should they be?

U.S. retirement confidence is higher than in the UK, Ireland, and Australia, even though plan participants in those countries contribute more.

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A man skates past a woman while playing the guitar along a dock against a backdrop of the Sydney Opera House. (AP Photo/Rob Griffith) Aussies save substantially more than Americans, largely due to higher contribution and deferral rates, which are mandated at the federal level.

Retirement confidence in the U.S. has catapulted in 2015, according to State Street Global Advisers 2015 Retirement Survey.

A bit more than half, or 51 percent, of respondents that participate in a workplace plan say they are extremely or very confident about their retirement readiness, up from 36 percent last year.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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