Mon. Dec 4th, 2023
Retirement savings

More than 60% of American voters over the age of 25 responding to a recent AARP survey said they are nervous about having enough savings to support a comfortable lifestyle when they retire.

“Anxiety and regrets about retirement savings are common among voters ages 25+,” AARP researcher S. Kathi Brown wrote.

More than 50 million American workers have no access to a retirement savings plan through their employers, and 26% of people who are not retired have no savings for retirement, according to the organization.

Two-thirds of the survey respondents said they do participate in a retirement savings plan offered by their employer, and 96% said such plans are important to them.

Eighteen percent of employed voter respondents said that their current employer does not offer them a workplace retirement plan, and 91% of them said that they would be either very or somewhat likely to take advantage of a plan if their employer were to offer one to them.

Participants, whether or not they have workplace retirement savings plans, overwhelmingly (92%) said that elected officials should support legislation that makes it easier for all workers to save for retirement from their paychecks.

By senior