51% Americans Expect Retirement Comfort

By Brent Meyer — SafeMoney.com Founder & Editor Reviewed by Licensed Financial Professionals  |  SafeMoney.com — Trusted Since 2011  |  Updated Regularly Quick Answer: Discover why 51% of Americans feel financially secure in retirement. Explore safe money alternatives for a comfortable future. Learn more at SafeMoney.com. The latest is in on how many people think they will be financially comfortable in retirement. Nearly half of non-retired Americans said they foresaw an uncomfortable retirement, according to new findings from Gallup . Meanwhile, 51% predicted they would have enough money for comfortable living in the golden years. What’s the verdict for after retirement? Good news on that front, as the numbers go up. Almost 8 in 10 retirees (78%) reported that they were financially comfortable. It’s a trend that has been pretty consistent since Gallup started tracking the data in 2002. In past years, 72% and 83%, respectively, were the lowest and highest measures of retired Americans reporting financial retirement comfort . What Else Did Gallup Uncover? While many Americans expect discomfort in their financial futures , there may be good news ahead. Financial optimism tends to pick up as people age.   Analysis from Gallup showed that people generally become more positive about their financial well-being once they retire. In 2002-2004, 54% of 50- to 64-year-old non-retired adults said they would have enough money to live comfortably once retired. Fast-forward a decade-and-a-half later, and Gallup interviewed retirees roughly in the same cohort, now ages 65 to 80. Here, the share of Americans reporting financial comfort, albeit now in retirement, swelled to 77%. That supports Gallup’s other finding, that people generally find themselves better off in retirement. How much income people had also greatly determined whether or not they lived comfortably. Among retirees making less than $30,000 per year, 54% reported financial discomfort. In that same group, 45% of retirees said they had enough money for a comfortable lifestyle. Meanwhile, higher levels of income were a strong determiner of financial comfort. Among retirees making $30,000-$74,999, 83% said they had enough money to live comfortably whereas 17% said they didn’t. Having enough money for a comfortable retirement was prominent among retirees bringing in $75,000 or more per year. Almost all (98%) said they had a financially comfortable retirement lifestyle, while 2% said t