Sponsored by Oregon Business

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

Beyond Bodegas

April 2015
Friday, March 27, 2015
BY JACOB PALMER

Five years in the making, the Portland Mercado — the city’s first Latino public market — will celebrate its grand opening April 11. A $3.5 million public-private partnership spearheaded by Hacienda CDC, the market will house 15 to 20 businesses in the food, retail and service sectors. It has some big-name funders, including the Paul G. Allen Family Foundation and JPMorgan Chase. The project goals are equally ambitious: to improve cross-cultural understanding, alleviate poverty and spur community economic development. 


Read more...

Emperor of the Sea

April 2015
Friday, March 27, 2015
BY COURTNEY SHERWOOD | Photos by Jason E. Kaplan

Pacific Seafood, one of the world’s largest processors, is rebranding as a more transparent and consumer-friendly operation. A controversial CEO and monopoly accusations from coastal fishermen complicate the tale.


Read more...

Opening soon: 3 of the coolest new breweries in Oregon

The Latest
Thursday, March 19, 2015
brewthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are 278 companies licensed to operate as brewery, according to the Oregon Liquor Control Commission. Here are three new beer-making hubs slated to open soon.


Read more...

Tweeting Portland's State of the City address

News
Friday, January 30, 2015
Screen Shot 2015-01-30 at 3.08.19 PMBY JACOB PALMER | OB DIGITAL NEWS EDITOR

For those who were working, here are a few highlights of Charlie Hales' State of the City address.


Read more...

Help Wanted: Poached Jobs aids restaurateurs

March 2015
Friday, February 20, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR

“We thought there was room for something new.”


Read more...

4 highlights of the MLS labor deal

The Latest
Wednesday, March 04, 2015
timbersthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

On Wednesday night, a couple days ahead of the 2015 season kickoff, Major League Soccer and the Players Union reached an agreement.


Read more...

How Oregon will survive the loss of Hanjin

March 2015
Friday, February 20, 2015
BY JOE CORTRIGHT | OB CONTRIBUTOR

"Shipping containers to Portland is like waiting for a bus that travels once a day."


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