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dalton99a

(81,683 posts) Wed Apr 24, 2024, 02:28 PM Apr 24

About 1 in 4 US adults over 50 say they expect to never retire, an AARP study finds

https://apnews.com/article/aarp-older-adults-retirement-savings-prices-c4f1353d97e8c0a9973c9c67a8eab800

About 1 in 4 US adults over 50 say they expect to never retire, an AARP study finds
By FATIMA HUSSEIN
Updated 12:33 PM CDT, April 24, 2024

WASHINGTON (AP) — About one-quarter of U.S. adults over age 50 say they expect to never retire and 70% are concerned about prices rising faster than their income, an AARP survey finds.

About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how a graying America is worrying more and more about how to make ends meet even as economists and policymakers say the U.S. economy has all but achieved a soft landing after two years of record inflation.

Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.

The data will matter this election year as Democratic President Joe Biden and Republican rival Donald Trump are trying to win support from older Americans, who traditionally turn out in high numbers, with their policy proposals.

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AARP Financial Security Trends Survey, January 2024:
https://www.aarp.org/research/topics/economics/info-2023/financial-security-trends-survey.html

5 replies

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About 1 in 4 US adults over 50 say they expect to never retire, an AARP study finds (Original Post) dalton99a Apr 24 OP

Im turning 50 this year xmas74 Apr 24 #1

51 JustAnotherGen Apr 24 #2

It gets more and more difficult in the US just to cover expenses let alone save enough for retirement. RKP5637 Apr 24 #3

I think in reality that number will even be lower. nt doc03 Apr 24 #4

Seems low to me. I'm in 50s ok_cpu Apr 24 #5

xmas74

(29,676 posts)

1. Im turning 50 this year

Reply to dalton99a (Original post)

Wed Apr 24, 2024, 02:30 PM

Apr 24

And I can't expect to ever retire.

JustAnotherGen

(32,010 posts)

2. 51

Reply to dalton99a (Original post)

Wed Apr 24, 2024, 02:35 PM

Apr 24

Blessed to not have a physical job - and work I absolutely love!

I intend to at least operate as a consultant in Global Trade until I can't read or type anymore. I just love global supply chain, trade routes, import, export, security, etc. etc.

Here's who I feel bad for - my peers who work to survive and have for decades. They deserve a peaceful retirement.

RKP5637

(67,112 posts)

3. It gets more and more difficult in the US just to cover expenses let alone save enough for retirement.

Reply to dalton99a (Original post)

Wed Apr 24, 2024, 02:37 PM

Apr 24

Decades ago we studied this in econ class that the carrot and stick approach would eventually fail. The US is not set up to serve all fractions of the US as the curves become more and more skewed toward wealth and the divide increases more and more. Into the future it will be bleak for millions of people as this continues. Far too often it descends into I've got mine, screw you. Most politicians do not really talk about solutions. The political divide is far too spread in today's US.

doc03

(35,434 posts)

4. I think in reality that number will even be lower. nt

Reply to dalton99a (Original post)

Wed Apr 24, 2024, 02:54 PM

Apr 24

ok_cpu

(2,056 posts)

5. Seems low to me. I'm in 50s

Reply to doc03 (Reply #4)

Wed Apr 24, 2024, 02:59 PM

Apr 24

and figure I'll croak before I can retire or will get retired and will be unable to find a way back into the workforce.

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