Workers Worrying About Retirement…

 

The faultering economy and rising health care costs are causing worry in many American workers.  They are worrying that they won’t have enough money to live in any kind of comfort when they retire.

I guess, eveyone is going to be working longer so all that news reporting about social security collapsing and not being enough social security money to help future retirees…do you hear that anymore?  I don’t…and it’s most likely because nobody can afford to retire!!!

The Employee Benefit Research Institute had it’s annual survey released recently and it showed the weakest worker confidence level in 7 years.  There were 61 percent saying they were “somewhat” or “very” confident of having ebnough money for retirement.  That is down from 70 percent in 2007 and the poorest showing since 2001 when 63 percent showed some confidence.

Confidence also fell among those already retired. with 29 percent showing any confidence at all, down from 41 percent in 2007.

Thank you for making me Your Orange County Real Estate Connection.

Best regards, Michael Caruso

~ by Michael A. Caruso on June 30, 2008.