"The study of 1,008 respondents, which was conducted by Opinion Research Corporation on behalf of Edward Jones, revealed that a large percentage of Americans also rank 'having to work longer to supplement retirement savings' (19%) and 'having to rely on others for support' (19%) as major concerns as they approach retirement. Respondents between the ages of 45 and 54 showed the most anxiety (26%) about having to work longer to supplement their retirement savings.
Americans in lower age brackets (24% of 18-24 year olds and 24% of 25-34 year olds) are most concerned about having to rely on others to support them during retirement. Additionally, within these age groups (18% in each age bracket respectively), respondents also indicated that they are more concerned about 'not being able to make provisions for family' than those older than the age of 35.
Household income also had a considerable effect on respondents' retirement fears, as Americans with annual incomes between $75,000 and $100,000, indicated that they are most concerned about 'having to work longer' (35%) and 'having to cut back on a desired lifestyle' (21%)."
Tuesday, November 16, 2010
Americans' Retirement Fears Revealed -- ST. LOUIS, Nov. 15, 2010 :