About one-quarter of U.S. adults age 50 and older who are not yet retired say they expect to never retire and 70% are concerned about prices rising faster than their income, an AARP survey finds.
About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how a graying America is worrying more and more about how to make ends meet even as economists and policymakers say the U.S. economy has all but achieved a soft landing after two years of record inflation.
Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.
Seems low.
Doesn’t mean they will, just that 3/4s think they will
So you’re saying a good 50% of Americans have no idea how they could possibly retire, they just think they will anyway.
Welcome to America
I really think that some time should be given to personal finance in school curriculum.
When I went through, we learned to write a check and balance a checkbook. That was it.
My oldest did have to take a personal finance class in high school (last year) and did cover things like retirement saving and different methods of. I think some places are trying.
Edit: I, on the other hand, had your experience.
I won’t be retiring. Not particularly good with money, plus a divorce, I’m 60, and have about 200K in retirement. It’s my own fault, I could have been far smarter. Now was always far more important than then.
