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Americans' concerns about retirement persist

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Staff Writer | May 9, 2018
Americans continue to have significant concerns about retirement, with almost half of those not yet retired - 46% - projecting they won't be financially comfortable when they retire.
America retired
America   The reports from those who are already retired are more positive
This is modestly improved from the level of pessimism about retirement in the years immediately after the Great Recession.

But when Gallup began tracking this measure in 2002-2004, a much lower 32% to 36% of nonretirees said they wouldn't have enough money to be comfortable in retirement - setting a benchmark so far not attained again, despite the recovering economy.

This year's April 2-11 update of Americans' attitudes about their finances also shows that financial concerns about retirement edge out having enough money for a medical emergency as the top financial worry among those not yet retired.

The reports from those who are already retired, however, are more positive. In the 13 years since 2005, between 72% and 79% of retirees (including 78% this year) have reported that they had enough money to live comfortably.

Retirees were slightly more positive in the first years of Gallup's trend, with 83% saying they were comfortable in 2003 and 2004.

The average gap between retirees reporting they are financially comfortable and nonretirees' projections that they will be financially comfortable when they retire has been 27 percentage points.