Even if you aren’t basking in your golden years just yet, just the thought of retirement can cause you to wake up in a cold sweat. Approximately two-thirds of Americans (67%) have said the country faces a retirement dilemma. In addition, 56 percent are worried they will not be able to afford a secure retirement.
More specifically, some of the most common concerns regarding retirement include;
- Carrying too much debt. In retirement, more than one-quarter of Americans are concerned about having too much debt.
- Being able to pay living expenses. Nearly 4 in 10 Americans (39%) are concerned about paying for essential expenses.
- Having the means to cover medical bills. According to SimplyWise, nearly half (47%) of Americans worry about paying medical bills when they retire.
- Outliving your savings. Half of all Americans are worried that their savings will run out while still alive.
- Social security running out. A majority of Americans (55%) worry that Social Security will not be there for them when they need it.
