Worries Over Retirement Likelihood Continue to Grow
Merrill Edge, the online discount brokerage arm of Bank of America, recently reported on research done in the San Francisco Bay Area to assess attitudes about retirement, and the results point to a continuation of pessimism among those still in the workforce. In fact, according to the study results, it appears that “(h)opes for a retirement began to evaporate some years ago for low- and middle-income Americans fearful of changes in the economic landscape.” More than three quarters of the survey’s millennials (ages 18 to 34) who already have accumulated investible assets up to $250,000 believe they will never quit working. With these attitudes in place, younger workers will clearly be watching closely as the new administration plans action to re-shape programs like Social Security and Medicare. Read a summary of the survey here…
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