KTRH Local Houston and Texas News

KTRH Local Houston and Texas News

KTRH-AM covering local news from Houston and across Texas.

 

A New Survey Reveals Most Americans See A Retirement Crisis

It's no secret that many seniors are deeply concerned about the upcoming election, and now a new survey says 90% of registered voters believe there is a retirement crisis in America.

And it's something that both sides, Republicans and Democrats agree on.

"That cuts across party lines and everyone seems to be more or less equally worried" said Daniel de Vise, personal finance writer for USA Today, "Almost all the Republicans said yes, 93%, but also 86% of the Democrats said yes there is a retirement savings crisis and that's significant. Everybody feels more or less the same way, they always feel like you need a lot of money to retire safely like maybe $2 million bucks."
So how did we get to this crisis point?

"There is a cumulative inflation effect over the last few years" de Vise told KTRH, "People are probably more worried than they have been in recent years about retirement security, because you kind of figure inflation might continue to happen."

Only 22% of voters say they are confident that they have enough to retire on, while 30% say they have no retirement savings at all.

Retirement Coin Jar

Photo: Nora Carol Photography / Moment / Getty Images


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