Sponsored by Lane Powell

Reader survey finds lack of retirement saving

| Print |  Email
Archives - June 2007
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

{safe_alt_text}

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

Portland’s long-distance bike commuters

The Latest
Monday, August 03, 2015
Matt KellyresizethumbBY KIM MOORE | RESEARCH EDITOR

Pushing the extreme.


Read more...

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


Read more...

Best Foot Forward

July/August 2015
Monday, July 13, 2015
BY CHRIS NOBLE

Whether you're stepping out to work or onto the track, Pacific Northwest shoe companies have you covered.


Read more...

Staffing Challenge

July/August 2015
Monday, July 13, 2015
BY KIM MOORE

A conversation with Greg Lambert, president of Mid Oregon Personnel Services.


Read more...

10 Innovators in Rural Health

July/August 2015
Monday, July 13, 2015
BY AMY MILSHTEIN | PHOTOS BY JASON E. KAPLAN

Telemedicine, new partnerships and real estate diversification make health care more accessible in rural Oregon.


Read more...

Photo log: Murray's Pharmacy

The Latest
Friday, July 17, 2015
OBM-Heppner-Kaplan thumbBY JASON KAPLAN

Photographer Jason Kaplan takes a look at Murray's Pharmacy in Heppner.  The family owned business is run by John and Ann Murray, who were featured in our July/August cover story: 10 Innovators in Rural Health Care.


Read more...

Reader Input: Energy Overload

June 2015
Wednesday, July 15, 2015

We asked readers to weigh in on the fossil fuel-green energy equation.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS