Retirement Roulette

More

Interesting data in the latest Allstate-National Journal poll, both on the country's political mood and on the focus of this latest installment in the series: retirement. The financial anxieties of "near-retirees" come through loud and clear.

This survey shows that among Americans age 50+ who have not yet retired ("near-retirees"), the recession has cast a shadow on their retirement plans and they find themselves with a completely different perspective than current retirees.

        •        On average, "near-retirees" expect to retire six years later than the age reported by those already retired.

        •        68% of "near-retirees" expect to work in some form after retirement, and about half of them say it will be out of necessity. Only 11% of current retirees report some form of continued employment.

        •        "Near-retirees" expect to retire later, have a less secure and a less comfortable retirement than their parents had. Current retirees say they retired earlier than their parents, with a more comfortable and more secure retirement.

        •        "Near-retirees" are also significantly less confident than current retirees in their ability to provide a secure retirement and handle expenses related to long-term care.

They're alarmed, but when you look at the numbers for projected savings at retirement and consider the prospects for Social Security and Medicare, you have to wonder whether they are alarmed enough.

National Journal and The Atlantic have produced a "Next Economy" supplement with some good articles on the subject. I especially recommend the closing column by Jonathan Rauch: "Escaping ICU hell."

Here is a link to the polling data if you want to take a closer look.

Jump to comments
Presented by

Clive Crook is a senior editor of The Atlantic and a columnist for Bloomberg View. He was the Washington columnist for the Financial Times, and before that worked at The Economist for more than 20 years, including 11 years as deputy editor. Crook writes about the intersection of politics and economics. More

Crook writes about the intersection of politics and economics.

Get Today's Top Stories in Your Inbox (preview)

What Do You See When You Look in the Mirror?

In a series of candid video interviews, women talk about self-image, self-judgement, and what it means to love their bodies


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.

Video

What Makes a Story Great?

The storytellers behind House of CardsandThis American Life reflect on the creative process.

Video

Tracing Sriracha's Origin to Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.

Video

Where Confiscated Wildlife Ends Up

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Politics

Just In