I don’t put much stock in surveys, especially when it comes to people and their money and healthcare. But I couldn’t resist this one.
I was intrigued by the first finding, no doubt stimulated by political rhetoric and misinformation.
71% of Americans aged 70+ are concerned about Social Security drying up – up from 29% in July and 54% in September.
43% of Social Security beneficiaries now worry about outliving their savings in retirement.
47% of Americans experienced an attempted Social Security scam in the last 3 months.
74% of workers now plan to work in retirement (up from 65% in May) – a pandemic high. 19% of people in their 50s now plan to work full-time in retirement (over double the reported 8% in May).
Nearly half of people laid off or furloughed due to COVID-19 saved $0 for retirement in the last year – up from 27% in September.
29% of 401k holders are now planning to withdraw early from that account to pay the bills – a pandemic high.
34% of Americans are now planning to change their investment strategy to keep more in cash accounts.
56% of Americans are willing to risk getting COVID in order to work, including 35% of seniors (60+).