3 in 10 Workers Feel Mentally Stressed About Retirement, Study Finds
3 in 10 American workers feel mentally stressed about retirement. At the same time most workers aren’t taking steps to prepare for retirement, according to the 2017 Retirement Confidence Survey, or RCS, from the Employee Benefit Research Institute.
Some of the key findings of the RCS include:
Workers who have a retirement plan or have even just taken steps to prepare for retirement feel less stressed about retirement preparations.
73 percent of respondents not currently saving for retirement say they would be at least somewhat likely to save for retirement if their contributions were matched by their employer.
About 30 percent of respondents worry about their personal finances while at work, while about half of all surveyed reported retirement planning, financial planning or health care planning programs would help them increase their productivity at work.
Workers are less confident than retirees about being able to afford healthcare in retirement. 54 percent of workers said they are very or somewhat confident about being able to afford medical expenses in retirement as compared to 77 percent of retirees.
The RCS was conducted in January of this year. Nearly 11-hundred workers who were 25 years of age or older and nearly 600 retirees responded.