Don’t tell Americans they’re in the midst of an economic recovery. They’re afraid of more than not being able to retire comfortably. They’re also afraid they won’t be able to afford necessary health care or even making ends meet. And as if that’s not enough, they’re also worried that the kids will be moving back home.
So says a gloomy new Harris poll, which indicates that 68% of Americans who are working or who have a spouse working are afraid there won’t be enough money for retirement.
Harris surveyed 2,306 adults online between July 16 and 21, 2014.
Among all Americans, working or not, 55% figure they’ll have to work longer than they want to because they won’t be able to afford retirement. Sixty-four percent of millennials and 74% of Gen Xers had this worry.
Then there’s health care. Among the employed, 63% fear they’ll run into medical bills that they won’t be able to pay. And 40% of the employed worry that either they or their spouse will have to tack on a second job just to meet everyday expenses.
Those with kids under 18 aren’t optimistic about their children’s college costs, either, with 63% feeling that they won’t be able to pay the tuition bills for one or more of their offspring. No matter the age of the child, parents are thinking ahead — and the picture isn’t pretty: 36% figure that the kids will end up back home, with Mom and Dad, because they won’t be able to make the rent on places of their own.