Wednesday, November 12, 2014

Fretting About Retirement

Who do you think is more worried about aging—men or women? In what may be a surprising finding, it's men, by a healthy margin. According to a new survey by Financial Engines, among American adults ages 55 and older, 40 percent of men say anxieties about getting older have sparked worries about retirement. In contrast,  just 29 percent of women report that aging is a major worry.

The pattern holds up for nearly every issue related to aging the survey asked. For example, 49 percent of men are anxious about rising health-care costs, but only 44 percent of women are. Nearly a third of men worry about losing a spouse prematurely, as opposed to just 24 percent of women, even though women tend to live longer than men. One greater concern on the part of women: 43 percent of them are worried about running out of money in retirement, while just 41 percent of men are.

Given all those additoinal worries on the part of men, it makes sense that women are more excited about retirement than men. Overall, 51 percent of women surveyed said they were excited about retirement, as opposed to 41 percent of men.

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