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Middle Class Losing Hope of Comfortable Retirement
Nearly half of Americans say it’s impossible to pay bills and still have a nest egg.
Golden Years Tarnished: Many Americans are pessimistic that they can retire
comfortably, according to a survey by a Country Insurance & Financial
Services of Bloomington, Illinois. About 46 percent say it’s impossible for
today’s middle-income families to pay their mounting bills and still have money
to put aside for a retirement nest egg. About 37 percent of people disagree, and
believe middle-class retirees indeed can live out their golden years in relative
comfort. Women feel the anxiety much greater than men: Nearly 70 percent of
women are “pessimistic or unsure” about retirement prospects, compared with
about 50 percent of men. One reason for the dire outlook generally: A whopping
62 percent say they didn’t begin investing for retirement until after age 30—and
some still have not started.—Garry
Kranz
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Index: Quick Takes April 10, 2007
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