8 Most Common Worries of Americans when Planning Retirement (2)

5. The amount of pensions to be saved is not clear. When it comes to the care of the elderly, no one can define an indicator of how much money needs to be saved to make life more comfortable in old age. Although some experts say that it is enough to save at least US $ 1 million on the US pension, this is only a theoretical statement and it is difficult for most people to reach such a level. . In fact, 18% of Americans set a goal of saving millions in pension funds, 21% of them aim to save pension funds between $ 250,000 and $ 500,000, and 29% aim to save pension funds. pension less than $ 250,000. . To accumulate ideal pension funds, how much of the income should be used for pension savings plans? 20% of people think 20% to 29% of their income should be used for pension savings, and 23% think it is not enough and requires more than 30%. For such a high pension savings rate, most Americans can only sigh with excitement. In fact, a family can devote 10% of its income to pension savings, which is considered a scent, and this is only possible for families who can live their lives.

6. Unforeseen medical expenses. After retirement, eldercare is the first to solve the problem of food, clothing, shelter and transportation. The so-called retirement life is chic. After you've eaten and drunk enough, you need to be financially strong to do what you love to do or travel the world. Traveling around the world is a big expense. If the income after retirement is not very high, these more extravagant living expenses can also be omitted. Traveling the world cannot be done. Walking in your own backyard shouldn't be a problem. Americans generally don't worry too much about basic living expenses such as food, clothing, shelter, and transportation after retirement. The survey shows that only around 16% of people do not feel sufficiently convinced that they will have enough money to meet the needs of daily life after retirement. What worries retired Americans the most are medical costs. People get sick as they get older, and it is impossible to predict the cost of medical bills. 29% of Americans worry about whether they will be able to pay for their medical bills after retirement, and 39% have no idea the cost of nursing care in their later years. Although American wage earners have government health insurance after age 65, the deductible is also a burden in some ways. The Findlay Investment Company research report shows that in addition to medical insurance, the average amount of personal expenses incurred by retired couples in the United States during the rest of their lives is between 227,000 and 240,000 people. This does not include the cost of long term care. Therefore, after retirement, medical and long-term care costs are expenses that older people cannot ignore. Of course, the solution is to rely on the money. People will buy medical insurance and long term care insurance with a lower deductible, which must be done before retirement. Good financial planning.

7. Unrealistic expectations of retirement spending. In the minds of most people, living expenses after retirement are likely to be lower than before retirement. 58% of non-retirees believe that their expenses after retirement will be lower than those of work. Among retirees, 48% say their post-retirement spending has decreased, and 30% already have Retirees said their post-retirement spending has not changed from those at work, and 21% of them spend more after retirement than before. Generally speaking, people's expenses for basic living needs after retirement will be lower than those at work, the most obvious being that transport costs will be considerably reduced. After retirement, people's homes will get smaller and smaller, and their cars will get bigger and bigger. In the past, they would come and go to work alone. After they retire, they can take the bus instead. After retirement, consumption habits also change and tourism consumption that did not appear often in the past can become major consumption. As people get older, medical health insurance can become a bigger expense for the elderly. Therefore, simply viewing post-retirement spending cuts as a reflection of the economic security of post-retirement life may be different from the actual post-retirement situation, and the additional increase in living costs at retirement. retirement will cause big problems for the elderly in their later years.

8. Unexpected early retirement. With the lengthening of human lifespan, postponing retirement has also become a way for people to save money for retirement. Delaying retirement can give people more time to accumulate pension funds and will also ease the headache of poor money. In 1991, 11% of people over 65 in the United States continued to work. In 2013, the proportion of people over 65 who continued to work rose to 14%. Of course, continuing to work does not mean that you still have to work full time, but a part time or part time job can also bring income. What bothers Americans is that they can return to their hometown before age 65. When the company fires employees, the older they are, the easier it is to become the target of layoffs and the likelihood of finding a job after being fired is also lower. Even though people hope to continue working after 65, their health remains a question. Almost 50% of retirees said they had to retire due to lack of strength and would not have the capital of the revolution if they wanted to continue serving the people.