AP Poll: More Boomers Working Their Way Through Retirement

10:10 pm Retirement Planning

work e1320962951160 AP Poll:  More Boomers Working Their Way Through RetirementAn Associated Press poll says that a majority of baby boomers plan to work through their retirement years as the result of having taken a financial hit in the past three years.

According to the poll, 73 percent of boomers said they plan to keep working in retirement, which is up from 67 percent in a March survey.

Approximately 53 percent of the boomers surveyed said they don’t feel they will be able to afford a comfortable retirement, which is up from 44 percent who expressed the same doubts just six months ago.

Overall, 62 percent of the boomers surveyed said they had lost money from at least one of the four most important components of their retirement savings plan:

  • 42 percent lost money from a workplace retirement savings plan
  • 41 percent lost money on personal investments
  • 32 lost money on an IRA
  • 29 percent lost money on real estate investments

The poll also found that 41 percent of boomers say they are expecting to have to make lifestyle changes to accommodate a new retirement reality, and 31 percent believe they will struggle financially in retirement.  Almost one-quarter (23 percent) said they will have to move to a smaller home when they retire.

The Matsen Voorhees law team have over 35 years of proven experience with development of retirement planning strategies so contact us today for a free consultation.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.