Worry about retirement is growing significantly, according to the results of a survey released Wednesday.
The number of Americans who say they are extremely or very concerned about their ability to live comfortably throughout retirement jumped to 37 percent in December, up from 30 percent in 2015, according to the study.
The percentage of respondents concerned about maintaining their standard of living in retirement rose to 34 percent, up from 25 percent.
The survey of 1,105 retirees and pre-retirees with more than $100,000 in household assets was conducted by researchers Greenwald & Associates and CANNEX, a provider of pricing and product comparison analytics to the financial services industry.
According to the survey, the “Guaranteed Lifetime Income Study,” 40 percent of respondents were very concerned about earning as much as possible on investments to meet their retirement goals. That number increased from 27 percent in 2015.
“The study reveals high levels of uncertainty post-election, particularly among pre-retirees with lower savings levels, and a focus on maximizing returns in the low interest rate environment,” says study
director Doug Kincaid of Greenwald & Associates.
“The data shows, when it comes to their investment portfolios, consumers are focused on risk assets including equities, but at the same time want to ensure that in retirement they will have the income they need to meet their needs,” says Gary Baker, president of CANNEX USA.