Chart 1: Americans are most concerned about paying for medical expenses in retirement, followed by paying off debt and funding assisted living care.
Chart 2: Social Security will be the top source of retirement income for nearly half of respondents, followed by a workplace retirement plan and a checking or savings account.
Chart 3: Gen X women, particularly those ages 38 to 45, express the most concern about managing their retirement income to meet their retirement expenses.
Chart 4: A majority of Gen X and millennial women said they would prefer to keep working and retire later if they were unable to retire as planned due to insufficient income.
Chart 5: Most millennial men express more concern about shorter-term market volatility than they do about not achieving their long-term goals, compared with Gen X and boomer men.

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Franklin Templeton Investments released its Retirement Income Strategies and Expectations (RISE) survey of investors, finding that Americans are most concerned about paying for medical and pharmaceutical expenses in retirement.

Their next biggest concerns, according to the survey, are paying off debt and funding assisted living care.

The survey also digs deeper into retirement income concerns and strategies across generations, as views and specific needs begin to diverge.

“This year’s RISE survey findings really highlight how individualized a person’s retirement savings plan needs to be,” Michael Doshier, vice president of Retirement Marketing at Franklin Templeton Investments, said in a statement. “The differences between generations, even among those of the same gender, show that comprehensive retirement planning requires a holistic view that incorporates demographic differences and short-term risk tolerances as well as long-term goals.”

The 2018 Franklin Templeton RISE survey was conducted online among a sample of 2,002 adults comprising 1,002 men and 1,000 women 18 years of age or older. The data is weighted based on current population statistics from the U.S. Census Bureau Generational groups are defined as follows:  Millennials (ages 20-37), Gen X (ages 38-53), Baby Boomers (ages 54-72), and the Silent Generation (ages 73-91).

Check out the gallery above for some findings from the survey.

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