Notable in an election year, at the top of the list of what these middle-income older workers worry about "a lot" is "the economy," closely followed by "saving for retirement." Older workers are just as likely to worry about their financial fitness (51 percent) and weight of their debt (48 percent) as they are their physical fitness (49 percent) and body weight (52 percent).
An estimated 62 percent of those queried expressed confidence that they'll have enough income to be comfortable in retirement, yet their personal finances may not support that. An estimated 47 percent indicated that they have less than $100,000 in investable assets. More workers in their 50s than 60s say they will rely a lot on 401(k) income during retirement.
Charles Schwab's survey was conducted by Koski Research, an independent research firm. The online survey polled 1,004 middle-income American workers between the ages of 50 and 69 from Jan. 19-30. Respondents had household incomes between $40,000 and $90,000. The survey was conducted using the Survey Sampling International panel.
-Jim McConville