The Hartford Says ‘Pre-Retirees’ Have Grim Outlook

Almost 90% of retirees 60 or older feared they did not have enough money to retire, with a substantial percentage (28.3% for ages 60-69 and 33.3% for age 70 and older) saying they had “no idea” when they might be able to leave the workplace behind. Many (17.4% for ages 60-69; 33.3% for age 70 and older) never plan to retire.

While different age groups within the respondents focused on different worries, all were pessimistic about their futures. Those in their 60s put health concerns at the top of the list; outliving their money came in second. Those 70 or older were more concerned about outliving their money; for them, the second biggest worry was inflation’s effect on their money, and the third was losses in the financial markets.