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Country survey shows more Americans doubt ability to retire

Mon, 25 Mar 2013 05:36:04 CDT
By: Jim Browne

Country survey shows more Americans doubt ability to retire The latest Country Financial Security Index shows growing pessimism among baby-boomers about their retirements. The survey of at least 3,000 Americans by the Bloomington-based company shows only 28% of those 50-to-65 years old think it's possible for a middle income family to save for a decent retirement. 47 percent of those between the ages of 18 and 30 think an average family can count on a secure retirement. Joe Buhrmann with Country explains the gap:

"I think seeing some of the optimism from our youngest group, our GenY folks is somewhat to be expected, those are the youngest group out there, they've got the longest time until retirement, tomorrow is a long ways away, whereas for the baby boomers, tomorrow is today."     
Buhrmann says over a third of the baby boom generation's already put off retirement by a couple of years. The survey also shows 44% say 65-to-67 is a reasonable retirement age, but nearly a quarter, 23%, say they expect to work until they're nearly 70. Overall, the survey shows only a third of Americans think a middle income family can save for a secure retirement. Middle income is defined as earning between $50,000-and-100,000 for a family of four.

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