This report by Sara Rix highlights growing concerns about current and future financial well-being.
Few Americans aged 50-plus feel that the economic situation has improved over the past year and many remain worried about their economic security. Nearly half think their standard of living in retirement will be worse than their parents and most fear their children’s retirement prospects will be worse than theirs.
- More than two years after the official end of the recession, Americans aged 50 and older remain deeply concerned about their current and future financial well-being. Few feel that either the economic situation or job opportunities have improved over the past year.
- Regardless of employment status, most lack confidence in their ability to find a job anytime soon.
- Nearly half anticipate that their standard of living in retirement will be worse than that of their parents or parents’ generation; even more expect their children’s retirement standard of living to be worse than theirs.