New Survey: How the Generations Feel about Retirement

Gather 'round, children of all ages! 🦃💵 We're talking turkey...er, um, retirement. And it seems like every generation would love a turkey stuffed with cold hard cash for their golden years. 👵🏻

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According to the latest Retirement Survey & Insights Report, everyone's a little bit anxious over having enough cash saved up. 😵‍💫

Here’s Five Fast Facts on these new survey results:

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1. 🥑 A Millennial Moment- 34% of Millennials who took the survey feel they're not where they should be with retirement savings. All usual Starbucks/avocado toast jabs aside, they're blaming financial hardships or being forced to choose between working or caring for a child or aging parent.
2. 📑 Survey Says - Millennials aren't the only Worry McWorrisons. 53% of working Baby Boomers, 51% of Gen Xers, and 27% of Gen Z feel like they're behind on retirement savings, too. 
3. 🏃💨 The X-Factor - 65% of Gen Xers are worried about managing their retirement savings and over 50% feel they have a lot of catching up to do.
4. 💰 What's Retirement? - Retirees say their top concerns are inflation (71%), potential future healthcare needs (51%), and Social Security not being an option (46%).
5. 👛 Big Cut Back Energy - Over half of retirees who took the survey said their current income is less than 50% of their pre-retirement income.

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🔥Bottom line: Getting all the generations together can get a little rowdy, but almost everyone agrees being smart about money *literally* pays. The survey showed 95% of working respondents say financial help is the key to living that retirement king/queen life. Need help navigating the retirement savings sea? Check out this article for some top tips.

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How are you feeling about retirement?

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