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American's Freaking Out About Having Enough Money to Retire

American’s Freaking Out About Having Enough Money to Retire

A Pew Research study just out paints a disturbing picture of what lies ahead for many in retirement. Let me summarize the results of the report for you, half of people better start enjoying dog food.

According to the survey results, about four-in-ten (38%) adults says they not confident they will have enough income in retirement. That’s up from 25% just two years ago.

What makes this lack of a positive outlook even more worrisome is the fact that this current political season paints some stark contrasts between the way the incumbent Obama and Republic candidate Romney would approach social security benefits.

If Americans are not adequately savings and social security benefits may be reduced for younger Americans, where does that leave people when they are no longer able to work?

For people between the ages of 36 and 40, more than half already project their retirement savings will not be sufficient.


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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