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Retirees ‘less confident’ about their nest egg

November 18, 2008 by  

Retirement savings are uncertain for many peopleThe proportion of middle aged and older people who admit they are not confident they have enough money for retirement has risen, a new survey reveals.

A poll commissioned by the Hartford indicates that nearly eight out of 10 Americans are at least somewhat worried about having sufficient funds for their golden years.

And those who question their own financial adequacy has increased, with 40 percent saying they are not confident their savings and investments will be enough, compared with 28 percent who held this fear in 2006.

Perhaps connected with this loss in confidence, around half of respondents said they plan to continue working in their older age – whether it is by staying in their current job, slowing down or starting a new career.

The international survey found that financial concerns about retirement exist in many different parts of the globe.

"Around the world, adults who’ve worked their entire lives have differing visions of what they want their retirement to look like, yet unfortunately they struggle to make that vision a reality," commented Liz Zlatkus of the Hartford.

Fears about the economy are not exclusive to those on the brink of retirement. Recent polls of American adults have found that many people’s confidence in their financial standing has been shaken by recent events.

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