Most Americans want to retire, but only half feel they’re able to save for the future.
The big picture: Many people in the U.S. say they are unprepared for retirement, unsure how to prepare and unsure if they even want to fully retire, according to a new Axios-Ipsos poll.
One in 5 say they don’t think they will ever retire.
Just 36% of those 55 and older — nearing typical retirement age — say they’ll be able to retire as planned.
By the numbers: 30% of people still working plan to use a pension to help fund their retirement, compared to 54% of retirees who say they’re using pension money, Axios’ Erica Pandey writes.
On top of that, “roughly half the workforce — we’re talking 50-plus million people — work for an employer that doesn’t offer a retirement plan,” David John, a senior policy advisor at AARP, tells Axios. That could mean a small business or gig work.
What they’re saying: Survey responses from NWA readers indicated those doing well in retirement have multiple income sources.
Terry, 73, of Rogers told Axios they’re doing well because they have rental income to supplement Social Security.
“I don’t feel like I have to maintain the same lifestyle,” says Kate B., 65, of Bentonville. “I have paid off all my debt, including my house, so my expenses will be low. I don’t really plan to live an extravagant retirement — my garden, grandkids, and some domestic travel is good enough. I will have Social Security and a part-time job — I plan to work part time for another five years or so until 70. Then, (I) will draw on my 401k to make up the difference.”
