A Gallup poll released last month showed that for the first time in more than 10 years, over 50% of non-retired Americans doubt that they will have enough money to retire and live comfortably. Since “retire and live comfortably” is an extremely broad term, lets just say that we were surprised (as well as Gallup) that a majority of those not retired say they will not have enough money to live comfortably in retirement. One of the interactive features worth noting is the by clicking on the graphs on the sources of income, you can see the percentage of “source of income” for each of the categories over the years. See how retirement accounts drop by 18% over the last 10 years (ouch!).
While the Gallup poll examines retirement income, it does not examine the expense side of the retirement equation where housing makes up the top (or one of the largest components) of retirement expenses. It’s safe to say with statistics like this, non-retirees may be changing their mindset on what kind of housing they need to retire “comfortably”.
For the article and graphs, click here.