When it comes to retirement, 57% of Americans who participated in a recent survey say that they are either a little or far behind financially.
TD Ameritrade released the survey today which shows that more people feel they are "a little behind" (36%) vs. "far behind" (21%).
When asked the reason for being behind in their retirement savings, 56% of respondents said they have little or no money left for savings after meeting their regular expenses, and 56% also said they started saving for retirement later in life.
Coping with health-care expenses is a top concern for both men and women as they approach retirement. Both 38% of women and 38% of men admitting they were worried about it.
The survey also showed men and women had different levels of concern about these issues:
Of the 57% who reported they were behind in their retirement
savings, 61% of women reported that raising children set them
back, compared with 43% of men who reported the same.
47% of women cited "having to work longer to supplement Social
Security income" as one of their top two concerns as they approach
retirement, as compared to 35 percent of men.
42% of men cited "outliving savings" as one of their top two
concerns as they approach retirement, as compared to 37 percent of women
10% of women reported "extreme stress" in regards to managing
their retirement savings compared to 4% of men who reported the
same.