A slight majority of Americans nearing retirement age (aged 40-64) are unsure of how much money they will have when they retire, according to Country Financial. Men (46%) are more likely than women (42%) to say they know how much money they will have. Men (43%) are also more likely than women (34%) to say they will retire later than originally planned due to the recession.
Contrary to what one might expect, higher income does not mean greater confidence in retiring on time. In fact, the lower their income, the more likely they are to think they will retire ahead of schedule (see chart).
Source: “Financial Security Survey,” Country Financial, Jay Verner, 1701 N. Towanda Ave., Bloomington, IL 61701; 309-821-3372; jay.verner@countryfinancial.com; www.countryfinancial.com.
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