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On the Wrong Path: Financial Insecurity Among Adults and Women In The Lone Star State

Many Texas adults age 40-64 are on a path of financial insecurity that will not lead to a financially secure retirement. One in four has less than $5,000 in savings, and four in ten has experienced difficulty making ends meet in the recent past. Over half of those surveyed say they do not have enough or they have just enough money for everyday expenses. 

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In addition to everyday expenses, many face obstacles to saving such as costly health needs, children’s education, and debt. One in five does not have access to any workplace retirement savings tools. Many recognize their retirement insecurity as over half of those surveyed are anxious about having enough money for their retirement, and four in five wish they had saved more.  

Many Texas women face obstacles to saving such as costly health needs, debt, children’s education, and the financial responsibilities of caregiving for their children, grandchildren, or parents. One in three has less than $5,000 in savings and one in five does not have access to any workplace retirement savings tools. Many Texas women recognize their retirement insecurity as over three in five of those surveyed are anxious about having enough money for their retirement, and four in five wish they had saved more.  

The 2014 AARP Texas Financial Security Survey was conducted as a telephone survey among 894 age 40-64 year old adults in the state of Texas. The survey examined opinions and experiences related to financial security issues. The interviews were conducted by Precision Opinion from August 29th to September 17th, 2014. The sample was weighted by ethnicity, race and age for the general population in the state of Texas. For more information, contact Brittne Nelson at bnelson@aarp.org.


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