Retirement insecurity ranks near the top of Americans’ financial concerns, behind only the inability to cover the costs of unexpected emergencies, according to PwC’s 2016 Employee Financial Wellness Survey.
Overall retirement confidence stayed flat among the generations this year, but still shows massive gaps in the workforce’s preparedness for the future, as 45 percent of all employees surveyed fear running out of money in retirement.
Fear of exhausting savings in retirement was the worst among millennials and Gen Xers, 53 and 50 percent of whom, respectively, are expecting to outlive savings. Only 33 percent of Baby Boomers fear running out of money when they retire.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
