Retirement – a nightmare for Americans
Americans fear retirement the most in 11 years, Gallup survey shows.
Only 43 percent of US adults who are not retired believe they will have enough money to live comfortably after their working lives, the lowest percentage since 2012, CNN reports.
The percentage of those who believe that they will live well in retirement has decreased by five percent compared to last year, or ten percent compared to 2021, reports SEEbiz.
"These numbers are pretty bleak," Gallup chief Muhammad Younis said, adding that they reflect concerns over high housing costs, fears about the safety of money in bank accounts and fears of a possible recession.
The survey, which was conducted from April 3 to 25, found that women are significantly more worried about their future in retirement, as 36 percent of women versus 50 percent of men believe they will live carefree in old age.
Optimism and pessimism also depend on the amount of current income, so 36 percent of middle class members believe that they will live in retirement without financial problems.
The results of the survey are consistent with the pessimism emerging from other surveys.
According to data from the University of Michigan, US consumer sentiment hit an all-time low in May, and a recent CNN poll shows 76 percent of Americans believe the economy is in bad shape.
Only 35 percent of Americans believe President Joe Biden can do or recommend good things for the economy, according to a previous Gallup poll.