Lincoln National Corporation
10/17/2024 | Press release | Distributed by Public on 10/17/2024 09:42
Americans are increasingly concerned about their finances in retirement, according to new Lincoln Financial data
Radnor, PA, October 17, 2024
Since the beginning of 2023, Americans have been becoming increasingly worried about whether they'll have enough money in retirement, according to survey data from Lincoln Financial. Today, concerns about retirement finances account for three of consumers' top ten financial concerns. More consumers feel highly concerned about finances in retirement than they did last year, while other financial concerns have remained more stable.
Survey data shows Americans are more concerned about the following areas:
- Having enough income in retirement
- Outliving their money
- The impact of taxes on their retirement savings and investments
Surprisingly, with retirement concerns being so prominent, less than 15% of highly concerned consumers have recently discussed ways to address these concerns with a financial professional.
Lincoln Financial dives more into these findings in its latest report, Q3 2024 Consumer Financial Concerns and Investment Priorities.