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

Photos from the 100 Best Companies to Work For in Oregon awards celebration

The Latest
Friday, February 27, 2015
IMG 9975cneditPHOTOS BY JASON E. KAPLAN

Images from the 2015 celebration of Oregon's great workplaces.


Read more...

2015 100 Best companies announced

The Latest
Friday, February 27, 2015
IMG 0022cneditBY OB STAFF

The 100 Best list recognizes large, medium and small companies for excellence in work environment, management and communications, decision-making and trust, career development and learning, and benefits and compensation.


Read more...

Carbon Power

February 2015
Tuesday, January 27, 2015
BY LINDA BAKER

Researchers in a multitude of disciplines are searching for ways to soak up excess carbon dioxide, the compound that contributes to global warming.


Read more...

How a Utah-based essential oils company cornered the Oregon market

March 2015
Friday, February 20, 2015
BY AMY MILSHTEIN | OB CONTRIBUTOR

Multilevel marketing, health claims and zyto scanner biofeedback machines: How dōTERRA thrives in Oregon. 


Read more...

Everything old is new again: How the EEOC is reinventing itself

Contributed Blogs
Tuesday, February 17, 2015
BY TAMSEN LEACHMAN | OB GUEST CONTRIBUTOR

It is important to understand the EEOC’s priorities, and ensure that your leadership understands the shifting expectations of regulators and the heightened standards to which you (and they) may be held.


Read more...

4 winners and losers in the Kitzhaber scandal

The Latest
Thursday, February 12, 2015
021315-govorno-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Examining the governor's rapid fall from grace in a "bizarre" and "unprecedented" saga.


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


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