Have you saved enough money to last you through retirement? For most people, retirement funds will come from several sources, including pension plans, social security, various tax-deferred savings strategies and other taxable savings vehicles.

Even if you think you are saving enough for retirement, it's a good idea to check how you are doing periodically. Just consider the findings from the 2008 Retirement Confidence Survey.*

• 7 in 10 (69%) of today's workers are skeptical that Social Security will be able to provide them benefits of at least equal value to those current retirees have.
• 44% of workers expect to receive benefits from a pension plan when they retire.
• 47% of workers have taken the time and effort to complete a retirement needs calculation.
• 33% of workers who have not saved for retirement nonetheless feel very or somewhat confident that they will have a comfortable retirement.

The annual survey, sponsored by the Employee Benefits Research Institute and Matthew Greenwald & Associates, Inc., gauges the view and attitudes of working and retired Americans regarding retirement, their preparations for retirement, their confidence with regard to various aspects of retirement, and other related issues.

Most Expect to Work in Retirement
Almost three-fourths of workers (72%) said they expect to work for pay in retirement. While reasons for working were not asked in this year's survey, the 2004 RCS found that those expecting to work most often said they wanted to remain active and engaged, although 6 in 10 identified at least one financial motive for working.

It's Never Too Early to Start Saving
For many young people, retirement seems a long time away and there is no sense of urgency in planning for the future. Less than half (47%) of working individuals participating in the Retirement Confidence Survey said they have actually calculated how much money they will need to save by the time they retire so that they can live comfortably.

The rule of thumb is that most people will need between 60 and 80% of their current income to live comfortably in retirement.

Retirement Solutions
Taking advantage of your company's 401(k) and establishing an IRA will help you build your savings, but with the increasing number of choices and ever-changing tax laws, many people are turning to financial professionals for help in planning for a financially secure retirement.

Pension plans, 401(k) and 403(b) plans, IRAs, annuities and mutual funds, as well as variable and portfolio-based life insurance, can all play a role in a well-balanced retirement plan. Your Northwestern Mutual Financial Network Representative can help you assess your current financial situation and determine your retirement lifestyle goals. He or she can also assist you in identifying appropriate retirement funding solutions to reach your goals and objectives.