Summary
Many Americans are anxious about retirement and financial security. A survey reveals that over half of the respondents feel they might need to work again after retiring. Factors such as self-funded retirement, inflation, and living costs contribute to these concerns.
Key Facts
- A US Bank survey of 5,000 U.S. adults found that 63% worry they might need to return to work after retiring.
- Only 58% of those surveyed feel confident their savings will last through retirement.
- 81% of respondents feel retiring today is more challenging than for previous generations.
- Retirement funding in the U.S. mainly comes from individual savings without strong social safety nets.
- Concerns about financial readiness are tied to inflation, living costs, and market instability.
- Some retirees return to work not out of financial necessity but for structure and social connections.
- As of 2023, about 19% of Americans aged 65 and older are still working, reflecting longer life expectancies.
- Americans today have a higher life expectancy than in 1987, increasing the need for longer-lasting savings.
