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AARP: Boomers’ Retirement Concerns Not Being Addressed in Presidential Race—reversemortgagedaily.com
The anxiety level experienced by the baby boom generation is high, according to a recent survey by AARP. But many of the issues of concern outweigh the issues currently taking center stage in the upcoming presidential election such as job creation and employment.
Uncertainty stemming from inflation, taxes, retirement preparedness, and health care affordability are issues that are top of mind for those approaching retirement, and they don’t feel those issues are being addressed adequately, AARP finds in its survey of 1,852 registered voters, largely comprising the 50+ age demographic.
Of those surveyed, 72% of the non-retired boomers believe they will be forced to delay retirement, and half have little confidence they will ever be able to retire. The majority feels they will have to rely more heavily on Medicare and Social Security in light of the impact of the economic downturn on their retirement savings.
“…people in this age group are facing a difficult transition, and they’re worried about whether they can do it,” Jacquelyn James of the Sloan Center on Aging & Work at Boston College told AARP. “Most people had planned for a three-legged stool that would give them a happy, healthy retirement: a pension, their own savings and Social Security and Medicare.”
Read the full article at reversemortgagedaily.com.