According to a study, Americans who have investment savings of US$500,000 or more view their retirement much more positively than those with less than half a million dollars.
Maritz Research’s retirement study finds that those above this perceived tipping point are more optimistic regarding their financial security, less concerned about having enough money to last through retirement, feel more prepared for rising healthcare costs and feel less likely to have to work during retirement.
Near-retirees’ attitudes reflect their uncertainty. Compared to recent retirees, near-retirees are more concerned about having enough money to last through retirement and feel much less prepared for increasing healthcare expenses.
Only 67% of those nearing retirement are optimistic about their financial security during retirement, compared with 79% of recent retirees.
The study collected responses from 500 recent retirees who retired within the past three years and 500 near-retirees who anticipate retiring within the next five years.