Wednesday, June 22, 2011

U.S. Retirement Confidence Hits Record Low

Only half of Americans believe they will have enough money to enjoy a comfortable retirement, according to Country Financial’s Security Index.

The index dropped one point to 63.7 in June, partly because confidence in retirement reached an all-time low at 51 percent.

Just 45 percent of Americans were able to set aside money for savings and investment, a three-point drop from April. Only 37 percent rated their overall level of financial security positively, a one-point increase, and there was a two-point decrease in respondents who say their families would live comfortably if they died or became disabled.

For the first time in the four years of the index, women are more confident than men in most aspects of their financial security, with 53 percent of women indicating they are confident they will be able to enjoy a comfortable retirement, compared to 49 percent of men.

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