A new survey suggests that worrying about retirement is keeping many Americans awake at night — but who’s more likely to be counting sheep? Savers or Non-Savers?
Well, it turns out that while 61% of active savers are losing sleep over retirement, fewer than half (49%) of non-savers are in that camp, according to a new survey by Ramsey Solutions.
On the other hand, while nearly three-quarters (74%) of Americans who feel ashamed, guilty or embarrassed about retirement lose sleep thinking about their future, less than half of Americans who feel excited or confident about their future say they lose sleep over retirement.
Americans who work with a financial adviser are nearly twice as likely as those who don’t to say they are very confident they’ll have enough money to retire. They’re also more likely to have a six-figure nest egg: 44% of people who partner with a professional have $100,000 or more saved for retirement versus just 9% of those who fly solo.
‘X’ Files
When it comes to retirement, Gen Xers are doing a lot of things right, according to the survey which finds that they are more focused on preparing for their golden years than other generations and are more likely to actively save and spend time planning for retirement. Gen Xers also boast bigger nest eggs: 51% of them have $25,000 or more saved for retirement, compared to 46% of Baby Boomers.
Nonetheless, the survey finds that half of Gen Xers admit they are afraid of outliving their money. In fact, Gen Xers report higher levels of anxiety and are more likely to lose sleep than Baby Boomers, despite the fact that Gen Xers have more time to save. Despite all their efforts to build a better future, Gen X is the generation least likely to know how much money they need to save to hit their retirement goals or who to go to for answers to questions about retirement.
Retirement in America is a research study conducted with 1,016 U.S. adults to gain an understanding on attitudes, behaviors and perceptions around the topic of retirement. The nationally representative sample was polled Feb. 26 - March 1, 2016, using a third-party research panel.
Well, it turns out that while 61% of active savers are losing sleep over retirement, fewer than half (49%) of non-savers are in that camp, according to a new survey by Ramsey Solutions.
On the other hand, while nearly three-quarters (74%) of Americans who feel ashamed, guilty or embarrassed about retirement lose sleep thinking about their future, less than half of Americans who feel excited or confident about their future say they lose sleep over retirement.
Americans who work with a financial adviser are nearly twice as likely as those who don’t to say they are very confident they’ll have enough money to retire. They’re also more likely to have a six-figure nest egg: 44% of people who partner with a professional have $100,000 or more saved for retirement versus just 9% of those who fly solo.
‘X’ Files
When it comes to retirement, Gen Xers are doing a lot of things right, according to the survey which finds that they are more focused on preparing for their golden years than other generations and are more likely to actively save and spend time planning for retirement. Gen Xers also boast bigger nest eggs: 51% of them have $25,000 or more saved for retirement, compared to 46% of Baby Boomers.
Nonetheless, the survey finds that half of Gen Xers admit they are afraid of outliving their money. In fact, Gen Xers report higher levels of anxiety and are more likely to lose sleep than Baby Boomers, despite the fact that Gen Xers have more time to save. Despite all their efforts to build a better future, Gen X is the generation least likely to know how much money they need to save to hit their retirement goals or who to go to for answers to questions about retirement.
Retirement in America is a research study conducted with 1,016 U.S. adults to gain an understanding on attitudes, behaviors and perceptions around the topic of retirement. The nationally representative sample was polled Feb. 26 - March 1, 2016, using a third-party research panel.
- Log in to post comments