A majority of Americans, 62%, are more concerned about retirement today than they were last year — that’s an increase from the 56% who said so in May. Those who are closest to retirement are the most likely to be worried.
That’s according to a survey by SimplyWise, an online tool that helps investors understand Social Security.
More than half of respondents, 55%, said they were worried Social Security would be “dried up.” Other common retirement worries were outliving savings (50% of respondents), paying medical bills (47%) and paying daily living expenses (39%). Thirty-seven percent were worried they wouldn’t be able to retire at all.
The online study of 1,128 Americans aged 18 and older was done by SimplyWise July 3-6.