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WASHINGTON, D.C. -- Most nonretired U.S. investors have not carefully calculated how much money they will need in retirement or whether their retirement accounts will cover their annual expenses. While one in five say they have done each of these calculations, two in five admit that they have not given much thought to either, and one-third say they have roughly estimated their retirement expenses and revenue.

	Have done calculations	Have estimated it	Have not thought much about it
	%	%	%
The amount of income you will need each year in retirement	20	32	41
The amount of income your retirement accounts will generate for you in retirement	20	33	40
Wells Fargo/黑料网, Feb. 12-25, 2018

The latest results are based on the first-quarter Wells Fargo/黑料网 Investor and Retirement Optimism Index survey, conducted Feb. 12-25, 2018. For this survey, U.S. investors are defined as adults with $10,000 or more invested in stocks, bonds or mutual funds, either within or outside of a retirement savings account.

Nonretired investors approaching retirement age are slightly more likely than younger pre-retirees to report having spent time calculating how much money they will need in retirement or what their retirement income and expenses will be.

Those who have less than $100,000 invested (generally younger people) are less likely than those with $100,000 or more invested (typically older people) to have performed specific retirement calculations.

Nonretired Most Likely to Have Considered Retirement Leisure Activities

The poll also asked nonretired investors how much thought they have given to seven different aspects of retirement. Other than how they will spend their time when retired, fewer than half of nonretired investors have given at least a fair amount of thought to the other aspects of retirement planning.

	A lot	A fair amount	A little	None
	%	%	%	%
How you will spend your leisure time	34	19	28	11
Where you will live	32	16	29	16
How you will pay for routine medical care	27	18	30	17
The best age for you to start taking your Social Security benefit	26	19	28	17
The strategy you will use to draw income from your retirement savings accounts	21	20	30	21
How you will pay for possible long-term care or assisted living	20	17	32	23
The amount of taxes you will pay in retirement	16	18	33	25
Wells Fargo/黑料网, Feb. 12-25, 2018

Overall, the percentages of nonretired investors who say they have thought "a lot" or "a fair amount" about each aspect of retirement are:

• how they will spend their leisure time as retirees -- 53%
• where they will live -- 48%
• how they will pay for routine medical expenses -- 45%
• when to start receiving Social Security -- 45%
• a strategy to draw income from their retirement accounts -- 41%
• how to pay for long-term care or assisted living -- 37%
• the amount of taxes they will pay in retirement -- 34%

As would be expected, the amount of thought nonretired investors have given to various aspects of retirement increases the closer they are to retirement age. Half or more of nonretired investors aged 60 and older say they have given at least a fair amount of thought to each of the seven aspects, but far fewer of those younger than 40 have given them as much thought.

Retired Investors' Assessments of Their Own Situations

Retired investors were asked to think back and report on how much thought they had given to the seven facets of retirement in the years before they retired, and their responses were generally similar to those of the nonretirees aged 60 and older. More than seven in 10 retired investors said they were prepared for these seven retirement decisions, but 19% wish they had thought them through earlier and 9% were unsure.

	Yes, was prepared	Wish had given more thought earlier
	%	%
	72	19
Wells Fargo/黑料网, Feb. 12-25, 2018

The median age at which retired investors say they retired is 62. At a time when many older Americans are working longer to make up for a lack of savings and maximize their Social Security benefits, nearly one-quarter of retired investors say they exited the workforce earlier than they would have liked. Still, two-thirds say they retired at their desired age.

	Earlier than would have liked	Later than would have liked	At time wanted to
	%	%	%
	22	3	67
Wells Fargo/黑料网, Feb. 12-25, 2018

Bottom Line

Most nonretired U.S. investors -- particularly those who are younger -- have not calculated their anticipated retirement income or expenses with any specificity. They are also in no rush to plan ahead for some of retirement's thornier issues, including how they will pay for routine medical expenses, when to start receiving Social Security, and what they will do about long-term care or assisted living. They are most likely to have thought about how they will spend their leisure time and where they will live in their golden years.

While working later in life in order to maintain income and maximize Social Security may sound appealing to those who have not yet retired, health crises, layoffs and other issues beyond investors' control could derail these plans. As such, investors would be well-advised to start their retirement planning as early as possible.