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Retirement News
Only 28 Percent of Workers See Comfortable
Retirement in National Poll
Bankrate survey says 33% think they can just get by
when retired
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What's your target age
for retirement? 'I will work until I die'
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65+ group was a
small base size.
Source: Bankrate.com 2007 |
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June 23, 2008 More and more Americans are
concerned about their retirement prospects, according to new poll
results from Bankrate, Inc., which found last year that many older
Americans plan to work until they die.
The new poll, conducted by GfK Roper as part of
Bankrate's Financial Literacy series on retirement, reveals that
retirement is a growing concern amid tumultuous financial times for
Americans.
Key findings about the concerns of the 1,004
Americans polled include:
● Only 28 percent say that they will be able to
retire comfortably.
● One-third (33 percent) say they'll have just
enough finances to get by when retired.
● Seven out of 10 say that they have set low
expectations about their retirement prospects.
● Nearly two out of 10 (17 percent) say they
will not have enough money to retire without worrying.
● Nineteen percent say they are afraid they'll
never be able to retire.
Not all Americans are finding themselves in despair
when figuring out how they'll be able to retire, however. In spite of
economic concerns, 16 percent of those polled opted to raise their
contributions to their retirement fund.
The vast majority of those polled have continued to
see the value in a retirement fund, with only 8 percent opting to stop
contributions altogether.
"Retirement is something that everyone needs to
plan for," said Julie Bandy, editor in chief at Bankrate.com. "In
difficult economic times, it's important now more than ever to plan
intelligently. The long-term benefits of keeping an active retirement
fund far outweigh the short-term gains of not investing."
Bankrate.com has a special online section of free
advice on retirement.
Click here
Additional articles in Bankrate's Financial
Literacy guide on retirement include:
-- "Rethinking retirement in uncertain times"
-- "Retirement accounts for newbies"
-- "8 ways to ruin your chances to retire"
-- "Ways to downsize during retirement"
-- "Finding a place that fits your lifestyle"
To view Bankrate's Financial Literacy 2008 -- Guide
to Building Personal Wealth,
click here.
To the library on retirement,
Click here
About Bankrate, Inc.
The Bankrate network of companies includes
Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services,
Savingforcollege.com, Fee Disclosure and InsureMe. Each of these
businesses helps consumers to make informed decisions about their
personal finance matters. The company's flagship brand, Bankrate.com is
a destination site of personal finance channels, including banking,
investing, taxes, debt management and college finance.
Bankrate.com is the leading aggregator of rates
and other information on more than 300 financial products, including
mortgages, credit cards, new and used auto loans, money market accounts
and CDs, checking and ATM fees, home equity loans and online banking
fees. Bankrate.com reviews more than 4,800 financial institutions in 575
markets in 50 states. In 2007, Bankrate.com had nearly 60 million unique
visitors. Bankrate.com provides financial applications and information
to a network of more than 75 partners, including Yahoo! (NASDAQ:YHOO)
, America Online (NYSE:TWX)
, The Wall Street Journal and The New York Times (NYSE:NYT)
. Bankrate.com's information is also distributed through more than 500
newspapers.
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