Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Retirement Planning > Retirement Investing

Most Americans Fear Retirement: NAVA

Your article was successfully shared with the contacts you provided.

NU Online News Service, March 28, 2005, 11:15 a.m. EST

Almost all Americans say they have some financial concern about retiring, a recent survey finds.[@@]

The survey by the National Association for Variable Annuities, Reston, Va., found that 95% of Americans are uneasy about their financial situation in retirement. 42% feared either running out of money prematurely or having to downgrade their lifestyle in retirement.

In addition, 28% worried that high health care costs could drain their retirement savings quickly. 16% worried about the possible decline of Social Security payments, and 9% worried that inflation would eat up much of their hard-earned retirement savings.

NAVA’s survey, “2005 Financial Retirement Fears,” also made these findings:

  • The financial fear weighing heaviest on the minds of those aged 18 to 34 was the premature depletion of retirement savings, cited by 24% in that age group.
  • Part-time workers across all age groups showed high concern about running out of money during retirement, almost 40% more than full-time workers in the survey.
  • Full-time workers aged 35 to 54 worried a great deal about being able to maintain their lifestyles in retirement. 37% of Americans in the age group ranked the inability to keep up their current standard of living as one of their top 2 retirement fears.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.