Americans are more scared of going broke in retirement than they are of death, study finds

In the face of inflation, tax and social security facilities, most Americans are more afraid of breaking down in retirement than death.

This is according to a new survey of Allianz Life that has surveyed the annual income of one thousand US adults aged 25 years or older $ 50,000 or more. Total, 64% of the generation respondents say they are more stressful about running funds in gold years than the possibility of death.

Kelly Lavigen, VP of Consumer Insights in Allianz Life, said, “It’s been a long time now than a long time.” The company has been voting on the question of whether the company has died or out of money since 2022 is more concerned.

Americans say they need $ 1.26 million for a comfortable retirement, according to a Recent research By the North -West Mutual. This is less than $ 200,000 than last year’s estimate, but according to consumer money survey of the Federal Reserve Board, the retirement accounts are still far from moderate amounts of $ 87,000.

At different ages, Jenner Jars, for whom retirement is coming forward, is most concerned about going out of money before he dies. Seventy percent of the age expressed concern, then 615% of the boomers. The ages 1 to 793, the boomers are already in their retirement era, when Jenner Jersh, 3 to 60 years of age, will be the next generation to retire.

“Of course for the boomers who are already retiring, inflation is a big deal because you simply have a certain amount of money you have throughout your life,” Lavigen said.

Hard time for money saving

Although inflation rates have declined since the picking in June 2022, the cost of living basic living Still risingMakes Americans hard to remove excessive savings. More than 50% surveyed by Allianz said that high inflation contributed to the fear of going out of money to retire.

Other reasons for Americans contributing to fear include concerns about whether high taxes and monthly social security provisions will provide them with adequate financial support. For average Americans, social security facilities usually replace about 40% of their income, Lavigen said.

Recent shake ups The Trump administration has also expressed fears about the stability of the government agency in the Social Security Administration or in the DOG.

Lavigen’s advice for sad saves: Fear will not prevent you from seeking help. “You really want to make sure you are working to help you get these national times with a professional, where there is a lot of uncertainty,” he said.