Sponsored by Oregon Business

Reader survey finds lack of retirement saving

| Print |  Email
Friday, June 01, 2007

This month’s survey focusing on our readers’ personal financial situations finds them decidedly optimistic, with a large majority saying their finances have gotten better and that they expect that trend to continue. Yet a dark cloud looms on the horizon: funding their retirement.

In this they aren’t alone. The 910 respondents to our survey, conducted by research partner Conkling Fiskum & McCormick, mirror the angst of the over-40 population nationwide.

According to an AARP study, 68% of baby boomers plan to work beyond traditional retirement age, mostly because they need the money. Of all adults surveyed, three-quarters say saving for their retirement years is very important, but only 35% feel very confident that they will have enough money to live comfortably throughout their retirement years. Other findings:

  • 28% of workers and 12% of retirees say they are not confident about having enough money in retirement to pay for their medical expenses.

  • 40% of workers and 33% of retirees say they are not confident in their ability to take care of long-term care expenses should they occur during their retirement.

  • 15% of workers and 9% of retirees are not even confident they will have enough to take care of their basic expenses.

One-third of the workers in the national survey have not saved any money for their retirement; 26% admitted they aren’t sure they know how to determine how much money they will need to live comfortably in retirement.

And if they have saved, it’s pretty modest: Half of the workers’ households have less than $25,000 in their savings and investments, excluding the value of their primary residence. Why? It’s hard to save, they say, because of insufficient income, high everyday expenses and a bad economy. It is also evident from the AARP study that workers are counting on employer-provided benefits for their retirement.

View slideshow


To participate in the Input survey, send an e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Research conducted by Conkling Fiskum & McCormick.



More Articles

Reader Input: School Choice

September 2015
Thursday, August 20, 2015

Which of the following would be most effective in reducing the cost of operating a public university in Oregon?


The Cover Story

The Latest
Tuesday, October 06, 2015
100515-cover1015-news-thumbBY CHRIS NOBLE

As we worked on the October cover, it became evident that Nick Symmonds is a hard man to catch — even when he’s not hotfooting it around a track.


Mayoral musings

Linda Baker
Tuesday, September 15, 2015
091515-mayors-thumbBY LINDA BAKER

The 2016 presidential election is shaping up to be the year of the outsider, with Bernie Sanders and Donald Trump capturing leads in the polls and the headlines. In Portland, Wheeler vs. Hales is bucking the outlier trend.


Reader Input: In or Out

October 2015
Wednesday, September 30, 2015

The refugee crisis has put immigration and border issues on the front burner, in Europe and at home. In Oregon, attitudes toward illegal immigration haven’t changed dramatically since 2006.


The God complex

Linda Baker
Wednesday, September 30, 2015
093015-zydellren-thumbBY LINDA BAKER | EDITOR

The media coverage about Pope Francis must have put me in a Biblical frame of mind. Because after touring the latest phase of the South Waterfront development, a mind boggling 1.5 million square feet of office and retail space that will spring up north of the aerial tram over the next few years, I couldn’t stop thinking about the massive project as a modern day creation story.


Light Reading

September 2015
Thursday, August 20, 2015

Ask any college student: Textbook prices have skyrocketed out of control. Online education startup Lumen Learning aims to bring them down to earth.


Is there life beyond Reed?

September 2015
Wednesday, August 19, 2015

A storied institution climbs down from the ivory tower.

Oregon Business magazinetitle-sponsored-links-02