Pew – More Americans Worry about Financing Retirement

Adults in Their Late 30s Most Concerned – More Americans Worry about Financing Retirement, by Rich Morin and Richard Fry, October 22, 2012

  • “Despite a slowly improving economy and a three-year-old stock market rebound, Americans today are more worried about their retirement finances than they were at the end of the Great Recession in 2009, according to a nationally representative survey of 2,508 adults conducted by the Pew Research Center. About four-in-ten adults (38%) say they are “not too” or “not at all” confident that they will have enough income and assets for their retirement, up from 25% in a Pew Research survey conducted in late February and March of 2009. An analysis of these surveys also shows that concerns about retirement financing are now more heavily concentrated among younger and middle-aged adults than among those closer to retirement age—a major shift in the pattern that had prevailed at the end of the recession…The new Pew Research survey finds that among adults between the ages of 36 and 40, 53% say they are either “not too” or “not at all” confident that their income and assets will last through retirement. In contrast, only about a third (34%) of those ages 60 to 64 express similar concerns, as do a somewhat smaller share (27%) of those 18 to 22 years old [according to analysis of Federal Reserve Board data].”
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