NU Online News Service, Aug. 21, 4:10 p.m. – Baby boomers are worried about the plummeting value of their retirement savings, according to new survey results from Harris Interactive Inc., Rochester, N.Y.
The researchers who conducted the survey, sponsored by The Allstate Corp., Northbrook, Ill., interviewed 1,400 people born between 1946 and 1961 over the telephone. Participants all had annual household incomes between $35,000 and $100,000.
The average value of the participants?f retirement savings fell to $93,000 this year, from $120,000 in 2001, Allstate says.
Fifty-two percent of the baby boomers surveyed said they were concerned about saving enough money for retirement, up from 29% a year earlier, and the proportion worried about paying for health care after retirement increased to 67%, from 39%.