The economy has certainly gotten better under President Trump. Paychecks are bigger. Taxes have been cut. Regulations have been rolled back. But that doesn’t necessarily mean you think you will be financially secure when the time comes to retire.
Research done by MassMutual says 54% of you doubt you will ever really be financially secure. Texas Public Policy Foundation economist Vance Ginn explains that this is not really surprising.
“There are many factors that go into financial insecurity. Actually it’s interesting to me that 46% of people feel financially secure,” Ginn explained.
The reasons we feel this include our credit card debt, student loans, mortgages, and the fact our paychecks took a long time to grow.
“Wages were flat. People took a hit during the financial crisis in 2008 and many people said they didn’t want to put money into the stock market,” Ginn stated.
And that might be a reason why only a third of us told researchers that we were doing a good job in preparing for retirement