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Poll: Are You Worried About Retirement?

Maybe it’s a function of what I do, but rarely does a day go by that I don’t fret about my retirement savings.

It could be that we’re constantly told we’re not saving enough. Or that others frequently warn about the future solvency of Social Security.

But at least I now know I’m not alone.

A new survey from the Pew Research Center shows Americans have grown increasingly worried they won’t have enough income and assets for their retirement.

From the survey:

“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.”

Pew says adults in their late 30s and early 40s have particular cause for concern: They have lost more financial ground over the last decade than any other age group.

Median wealth of adults between 35 and 44 was 56% lower in 2010 than for the same age group in 2001, according to Pew.

Much of this wealth loss is attributed to the collapse of housing values, which tend to impact this group more than older Americans, Pew says. Older age groups generally have a greater share of wealth from other sources and weren’t hurt as badly by the housing bubble.

As a group, just half of people between 35 and 44 are very or somewhat confident they will be able to afford retirement.

Younger and older groups are more confident, although it’s still troublesome that less than 60% of people between the ages of 55 and 64 — the group nearest to retirement age — believe they’ll have enough income and assets to last.

So, do you think you — or your kids — will be able to afford retirement? Take our poll below.

And if you’re not worried, share your secret in our comments section below.





Are you confident you have enough income and assets for retirement?
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