68 percent in new survey worried they
won’t have enough money to retire comfortably
The Hill,
by
Lauren Sforza
Original Article
Posted By: Imright,
3/30/2023 12:52:22 PM
Nearly 7 in 10 Americans said in a new survey that they are worried they will not have enough money to retire comfortably.
The Quinnipiac poll found that 68 percent of American respondents are either very concerned or somewhat concerned that they will not have enough money to “live comfortably during retirement.” Additionally, 33 percent said that they were very concerned about retiring comfortably, 35 percent said they were somewhat concerned, 16 percent said they were not so concerned and 15 percent said they were not concerned at all, according to the poll
Reply 1 - Posted by:
Nashman 3/30/2023 1:02:33 PM (No. 1437274)
Gee, what a surprise. Wait until the deep recession comes and the next couple of months. It'll be 95%. The last 5% being the leftist insane.
10 people like this.
Reply 2 - Posted by:
fordtran 3/30/2023 1:04:36 PM (No. 1437276)
Stick them up
Give me your money
You act like a big shot
But you're really a dummy
They want your blood
They want every drop
Bop until you drop
Bop until you drop.
The Ramones
11 people like this.
Reply 3 - Posted by:
heartlandmom 3/30/2023 1:07:12 PM (No. 1437279)
Nobody polled me, but count me worried.
13 people like this.
Reply 4 - Posted by:
zoidberg 3/30/2023 1:16:05 PM (No. 1437293)
I have enough saved for the rest of my life, as long as I die by August.
21 people like this.
Reply 5 - Posted by:
DVC 3/30/2023 1:18:31 PM (No. 1437296)
I remember reading a few years ago that the average person had saved something like $40K by age 50 "for retirement".
Until people put away a serious portion of their salary during working years, they won't be comfortable in retirement. My wife and I put away and invested 25% of our salaries for 35 years, and now are very comfortable in retirement. We didn't buy big homes and fancy new cars. Still driving each car for 10-12 years, I do the service, and modest home. Our Colorado vacation home....land cost $5K, long ago paid for and we built the cabin ourselves with a bit of help from friends to get the roof trusses up.
Live frugally, save HARD, and invest wisely....with professional guidance, not stupid stuff like "Money" magazine.
15 people like this.
i took a big hit since the end of 2020, I'm pushing back my final retirement at least 4 more years...
11 people like this.
Reply 7 - Posted by:
wilarrbie 3/30/2023 1:31:44 PM (No. 1437311)
At neart70 and still doing a part time job to supplement, I’ve saved and invested over the years and was doing just fine until 2020. My portfolio has dropped almost 40%. I’m very concerned now as I’m never going to be able to recoup and don’t believe the trend will change anytime soon. They said they wanted our retirement funds and they’re getting them.
12 people like this.
Reply 8 - Posted by:
stablemoney 3/30/2023 1:44:11 PM (No. 1437324)
Biden has decreased the purchasing power of the dollar by 33% in his term so far. Much more is coming, and for a decade.
6 people like this.
Reply 9 - Posted by:
DVC 3/30/2023 1:48:22 PM (No. 1437328)
Those that have lost a lot of money have either had no professional advisors, or FAR too common, completely incompetent "financial advisors".
In none of the downturns in the last 35 years have we ever been down by more than 20% and in most cases back even within 18 months or less. Currently, down about 20%, although recently some of the IRA statements have showed significant gains.
Diversification is crucial. We have at least 40 different mutual funds, and each fund has preformed in the top 25% in it's sector for the previous 5 years. If they drop out of the top 25% in that sector, we move the money to a different mutual fund in that sector which is in the top 25% in our annual "rebalancing and adjustment" sessions. Good financial advisors should be doing something like this. If not.....fire them and find a better one.
6 people like this.
Reply 10 - Posted by:
bpl40 3/30/2023 2:51:25 PM (No. 1437358)
Except for the privileged 1%, EVERYONE should be worried. Not just 68%. Secondly, forget comfortable. Having a roof over your head, paying heating bills and eating something more palatable than dog food should be the realistic concern. When the Kenyan said he would change America fundamentally and his mooching wife said Barack will knock us out of our comfort zone, they weren't kidding.
12 people like this.
Reply 11 - Posted by:
chumley 3/30/2023 3:46:55 PM (No. 1437377)
I started my second retirement yesterday. Yes, I'm very worried. I've been preparing for this for 45 years and what seemed like plenty of dough 20 years ago is barely adequate now. We wont want for any necessities, but neither will there be any cruises, vacation homes or Winnebagos.
Financial advisor? How do you tell a good one from a bad one? How do I get my money back if they clean me out? How likely is it that they will cost me more than they'll earn me? They talk about financial "products", for which each and every one comes with fees, but it isnt really a product at all. Its just blips on a computer, based on nothing at all.
Yeah, I'm worried. But I'm not getting back into the rat race.
5 people like this.
Reply 12 - Posted by:
zephyrgirl 3/30/2023 3:48:14 PM (No. 1437378)
There are many people who spend every penny they earn (and more). They're your neighbors who live paycheck to paycheck, and have nothing saved for retirement, but have more cars than people in their family (all luxury of course), huge mortgages, vacation homes, boats, the latest electronic gadgets, never cook a meal at home, take exotic vacations every year, max out their credit cards, and generally act like the good times will roll forever. They should be worried, because we're not approaching a recession, we're in one, and it will get worse before it gets better.
8 people like this.
Reply 13 - Posted by:
smokincol 3/30/2023 3:50:52 PM (No. 1437380)
now they can join the rest of us who are retired and living day to day on pension / social security / 401K's etc doles from federal and state governments and former employers retirement plans who don't give a damn whether we live or die
4 people like this.
Reply 14 - Posted by:
Starboard_side 3/30/2023 6:34:55 PM (No. 1437465)
Those 15% who were not concerned at all, are government workers who are getting a very nice pension instead of the crumbs most will receive under social security.
2 people like this.
Reply 15 - Posted by:
DVC 3/30/2023 7:28:29 PM (No. 1437509)
Re #12, exactly right. If you aren't saving anything....you WILL be either working until you drop, or living on SS alone.
Grasshopper vs. the Ant......we used to teach children these things in simple fables. Now common sense is considered to be a superpower.
2 people like this.
Reply 16 - Posted by:
Penney 3/30/2023 11:49:24 PM (No. 1437665)
Elect dem pols and watch nest eggs vanish! It's like magic!
0 people like this.
Reply 17 - Posted by:
mifla 3/31/2023 4:54:33 AM (No. 1437728)
You can drop the last word in the headline to increase it's accuracy.
0 people like this.
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