As a retired worker I was worried about if I would have enough to live comfortably…..my fears were made moot when I was hurt after Katrina and had to retire because I could no longer do my job.
Today many workers are worried that their retirement plan may not provide a situation that they are comfortable with as far as their lives go, that is…..
Inflation and falling stock prices have contributed to fewer retirees and workers than a year ago feeling good about having enough money for a comfortable retirement. The share of workers confident about their retirement finances fell from 73% to 64% in that time, the poll by the nonprofit Employee Benefit Research Institute showed. The economy’s performance, including slipping returns on savings, have “people significantly more hesitant about the future than they were,” said Craig Copeland of the institute, the Wall Street Journalreports. Among retirees, the drop was 77% to 73%. The findings are nowhere near the most worrisome found by the institute, which has conducted the survey for 33 years. The low point in confidence came in 2011: 49% for workers and 60% for retirees.
Inflation was cited most often as the problem facing retirees; 42% cited it as their top concern. About 60% of them reported the balances in their retirement accounts went the wrong direction in the past year. The S&P 500 index fell 2.95% in that period, according to Dow Jones Market Data. People still working named debt as the big problem 62% of the time, up from 56%. Almost half of them said debt is hurting their ability to save for retirement. “As we’ve come out of the pandemic, with heightened inflation and interest rates, we’re starting to see financial stress start to increase again in employees,” said Lynda Abend, head of strategy for John Hancock Retirement, per MarketWatch.
We will be working longer to enjoy our declining years less.
All this bad news could be avoided if only the people we elect spent my time worrying about the people than their moronic image.
If you are having these worries then I am truly sorry….but all these problems could have been avoided by the election of people that literally had your back.
But you prefer the hate and vitriol of social media….basically you are screwing yourself.
I Read, I Write, You Know
“lego ergo scribo”
In Saner Thought 
I created my own retirement plan and never had the problem. I did it with grit and determination, a few breaks and some capital. It didn’t matter to me who was in elective office.
Nice but not everyone has that chance chuq
Everyone has the same opportunity to do something with their lives in The United Sates. It is what they do with those opportunities that make the difference.
There was a time that could have been true but today I do not think there is that equality chuq
It takes a little personal drive and ambition — which is sorely lacking in our “Spoon-fed” generation. People would rather be “Kept” today than actually make the effort required to make something of themselves.
I do not see it that way not everyone sees making lots of money as ‘making something of themselves’….chuq
You are entitled to your viewpoint. What do YOU consider as making something of ones’ self then?
A happy life which you can do without being stinking rich. But if stashed money makes you happy then that fits you…..probably not me. chuq
Nothing is more comforting than a substantial feeling of fiscal security.
Inflation has definitely started to affect my retirement finances. I live on three pensions that increase annually by between 7-10%. But inflation is wiping out the increases now, forcing us to dip into savings accounts to find the money for some things we need to pay for. If my wife wasn’t still working part-time, (she is 10 years younger) we would certainly miss her extra income.
Best wishes, Pete.
Inflation is eating everybody’s pension….and the government just sits back and plays games with our lives. chuq
Yes, that is what is happening. That is true. Now what do you suppose we peons do to change things and what , in your opinion, is the prospect of things ever changing at all?
Three pensions? Imagine the plight of those living on a single pension. However I am glad that you are still secure.
One of them is quite small, John. The other two make up most of my monthly income. (Which is still not $2000 a month. )