2013
I have long held the thought that the financial state of America’s retires is not as glum as politicians and pundits try to convince us is the case. Up until now I had no hard evidence to support my theory. I relied instead on my observations such as seniors in restaurants and more importantly seniors traveling plus the heavy marketing that is directed at travel for retirees. I can’t go anywhere without running into American seniors. Just recently I was in Denmark and every day I met American seniors on one kind of trip or another. River and other cruises around the world are filled with seniors on their umpteenth trip.
Yes, I know there are poor seniors just as there are poor nonseniors. However, frequently the definition for seniors is based on income, not on assets or accumulated wealth.
June 4, 2013. U.S. Retirees More Financially Comfortable Than Nonretirees 75% retirees, 67% nonretirees report enough money to live comfortablyby Jeffrey M. Jones
PRINCETON NJ — U.S. retirees are consistently more likely than nonretirees to report having enough money to live comfortably. This year, 75% of retirees versus 67% of nonretirees say they are financially comfortable right now. Since 2002, the average gap has been 10 percentage points in favor of retirees. Gallup asks this question each year in its Economy and Personal Finance survey.
Overall, 68% of Americans say they have enough money to live comfortably right now. That number is up from the 12-year low registered last year, which also included lows for both retirees and nonretirees.These data are based on self-reports of financial comfort, meaning that two respondents with similar incomes or expenses may not respond to the question in the same way.
But one thing is clear, household income does not explain retirees greater likelihood of saying they are financially comfortable. Nonretirees are significantly more likely to report annual household incomes of $75,000 or higher. Retirees are more likely to fall in the $30,000 to less than $50,000 range, while the two groups have similar percentages in the other income categories.
via U.S. Retirees More Financially Comfortable Than Nonretirees.
QUINNSCOMMENTARY 