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Americans increasingly fear they will never be able to retire

Most unretired Americans, however, still see retirement as the goal, with 63% saying they expect to feel better upon retirement while 80% indicated that the prospect of a good retirement is the reason to work hard as an adult.

Published: August 4, 2023 4:30pm

Updated: August 4, 2023 4:31pm

Americans increasingly expect their financial situation will never permit them to retire.

In a recent Axios/Ipsos survey, 20% of Americans agreed that "I don't think I will ever retire." Of those over age 65, that figure stood at 33%.

Seventy percent of those who feel that they won't be able to retire expressed that sentiment because they don't think they will be able to afford to do so. Roughly 19% said they would not retire out of a desire to continue working.

Americans can begin claiming Social Security benefits as early as 62, though most non-retired Americans are concerned the system will cover less than half of their expenses. Thirty-seven percent said it would likely cover less than a quarter of their expenses while a further 24% thought it would cover less than half.

Most unretired Americans, however, still see retirement as the goal, with 63% saying they expect to feel better upon retirement while 80% indicated that the prospect of a good retirement is the reason to work hard as an adult.

Conducted between July 7-9, the survey questioned 1,238 U.S. adults and has a margin of error of +/- 2.9%.

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.

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