• RSS
  • Register
    Login
SWNSdigital
  • Home
  • SWNS Digital
  • Stories
    • Health & Nutrition
    • Science & Technology
    • Lifestyle
    • Family, Parenting, and Children
    • Work & Careers
    • Money
    • Food & Drink
    • Entertainment & TV
  • Register
No Result
View All Result
  • Home
  • SWNS Digital
  • Stories
    • Health & Nutrition
    • Science & Technology
    • Lifestyle
    • Family, Parenting, and Children
    • Work & Careers
    • Money
    • Food & Drink
    • Entertainment & TV
  • Register
No Result
View All Result
SWNSdigital
No Result
View All Result

Some workers​​ think they won't have enough money to last the rest of their life

April 13, 2022
in Business & Money, Lifestyle, Research, Senior citizens, Work & Careers
Home Work & Careers
Share on FacebookShare on TwitterShare on Reddit

By Aleksandra Vayntraub // SWNS

NEWS COPY w/ VIDEO + INFOGRAPHIC

You don’t need an office job to start saving for retirement, but a whopping nine in 10 industrial workers still think they do.

A recent survey of 2,000 Americans, half between the ages of 18–29 and half between 30–64, looked at how these groups plan for retirement across various fields of employment.

Workers at micro-sized companies (between 2–9 employees) were most intent on retiring in their 50s (32%)—but 24% of this group said their current employer doesn’t offer a retirement plan.

Overall, nearly half of all respondents (47%) think you can be “too old” to start saving for retirement.

Conducted by OnePoll on behalf of retirement benefits provider Human Interest, the survey also looked at some of the frequent reasons people think they won’t be able to retire.

Among all the reasons employees noted as keeping them from working at their desired level, pandemic-related stress was at the top of the list (44%), with finance workers being the most likely group to cite it as a barrier to reaching retirement (57%).

Meanwhile, 40% of workers​​ think they won't have enough money to last the rest of their life, particularly healthcare workers (61%).

Similarly, 47% of education professionals think they’ll burn out before reaching retirement, while HR workers are most worried about potential job loss standing in their way (47%).

While half of all respondents turn to their savings or checking accounts to save for retirement, preferences differed across industries and company sizes.

People working at enterprise companies (1000+ employees) were most likely to use a 401(k) (52%), 29% greater than those at small businesses (10–50 employees). Those at mid-sized businesses (51–249 workers) favored real estate (53%), and crypto was a popular choice among those at small organizations with a staff of 10–50 (44%).

To ensure they hit their retirement age, 37% would exchange a job they liked for a better-paying one they liked less, and 32% would change jobs to one with a better 401(k).

Respondents ages 30–64 were more likely than 18–29-year-olds to say they’d change jobs for a better 401(k) (36% vs. 28%).

“The pandemic took a different toll across industries, adding to existing sector-specific challenges when it comes to retirement savings,” said Eric Phillips, Senior Director, Partnerships & Strategic Insights at Human Interest. “Whether you work at an office desk or at a factory, you shouldn’t have to be well-versed in all aspects of finance to plan for your future.”

Forty-four percent of all respondents said they’re using their company’s retirement savings plan, with 30–64-year-olds more likely than 18–29-year-olds to do so (48% vs. 39%).

Those working in finance and insurance rely on their company’s retirement plan more than other industries (54%), while construction workers were least likely to use their company’s (38%).

And 73% of employed respondents wish their employer provided better 401(k) guidance and education.

“Our results showed that 70% think they’d have a better 401(k) with an office job, suggesting some employers may be unaware of how to improve the retirement plans they offer,” Phillips added. “There are affordable options for companies of any size to automate their 401(k) processes and take some of the guesswork out of saving for retirement for both themselves and their employees. In fact, when given access to a 401(k), our 2020 in-house study found that employees working in manufacturing and other underserved industries are nearly as likely to use their 401(k).”

INDUSTRIES WITH THE MOST 401(K) ENROLLMENT
● Financial/insurance - 54%
● Technology/computer science - 53%
● Health, medical, fitness and/or wellness - 50%
● Education - 50%
● Manufacturing - 47%
● Construction - 38%


Previous Post

Two in three adults believe 'candy hauls' are not just for kids

Next Post

Most Gen X women haven't worn their natural hair color in years

Next Post
Most Gen X women haven't worn their natural hair color in years

Most Gen X women haven't worn their natural hair color in years

Popular stories

  • Research reveals the 'unexpected' formula for the perfect vacation

    Research reveals the 'unexpected' formula for the perfect vacation

    0 shares
    Share 0 Tweet 0
  • Lois Griffin named America’s favorite mom: poll

    0 shares
    Share 0 Tweet 0
  • Research reveals what your favorite wine says about your personality

    0 shares
    Share 0 Tweet 0
  • These are the scents Americans associate with their childhood homes

    0 shares
    Share 0 Tweet 0
  • These are the most popular jobs kids dream of doing when they grow up

    0 shares
    Share 0 Tweet 0
digitalhub US

SWNS Media Group is a leading daily news provider to national newspapers, national/international digital news sites, blogs, social communities and commercial news channels. To gain unlimited access to the SWNS digital hub and receive auto-update emails every time new content is added, all you need to do is register to be a user.

Follow Us

Browse by category

  • Health & Nutrition
  • Science & Technology
  • Lifestyle
  • Family, Parenting, and Children
  • Work & Careers
  • Business & Money
  • Food & Drink
  • Entertainment & TV

Content

  • Images
  • Infographics
  • Videos
  • Home
  • The digitalhub
  • Archive
  • Contact
  • Terms & Conditions
  • Privacy Policy

© 2021 SWNSdigital

No Result
View All Result
  • Home
  • The digitalhub
  • All releases
  • Contact

© 2021 SWNSdigital

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
AWSELBsessionAssociated with Amazon Web Services and created by Elastic Load Balancing, AWSELB cookie is used to manage sticky sessions across production servers.
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Advertisement" category.
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
CookieLawInfoConsent1 yearCookieYes sets this cookie to record the default button state of the corresponding category and the status of CCPA. It works only in coordination with the primary cookie.
JSESSIONIDsessionNew Relic uses this cookie to store a session identifier so that New Relic can monitor session counts for an application.
lvapp_session6 hoursLinkedin sets this cookie to allow the forms to function within the website.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
XSRF-TOKEN6 hoursWix set this cookie for security purposes.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
CookieDurationDescription
swpm_sessionsessionThis cookie is set by the Simple WordPress Membership Plugin. This cookie is used for membership login session and to provide access to the protected content on the website.This cookie keeps the login records so user don't want to authorise each time while moving to next page.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
CONSENT2 yearsYouTube sets this cookie via embedded YouTube videos and registers anonymous statistical data.
_ga1 year 1 month 4 daysGoogle Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
_gat_gtag_UA_*1 minuteGoogle Analytics sets this cookie to store a unique user ID.
_ga_*1 year 1 month 4 daysGoogle Analytics sets this cookie to store and count page views.
_gid1 dayGoogle Analytics sets this cookie to store information on how visitors use a website while also creating an analytics report of the website's performance. Some of the collected data includes the number of visitors, their source, and the pages they visit anonymously.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
idsessionSet by Google DoubleClick, this cookie is used to create user profiles to display relevant ads.
muc_ads1 year 1 month 4 daysTwitter sets this cookie to collect user behaviour and interaction data to optimize the website.
personalization_id1 year 1 month 4 daysTwitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie15 minutesdoubleclick.net sets this cookie to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE5 months 27 daysYouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
YSCsessionYoutube sets this cookie to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-idneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt.innertube::nextIdneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
aff1 monthNo description available.
jnews_view_counter_visits[0]less than a minuteDescription is currently not available.
sitesessionDescription is currently not available.
Save & Accept
Powered by CookieYes Logo