Nearly a quarter (23%) of Americans said not being able to pay for healthcare costs in retirement was their top fear, down from 30% in 2006. Having to work longer than expected is becoming a more common concern however, with 19% of Americans sharing that fear versus 12% in 2006.
There is a notable difference between the genders as well – 27% percent of women responded that they were most concerned about healthcare costs, while 19% of men consider this their greatest fear in retirement.
“While the numbers may have changed slightly from the 2006 survey, the concerns remain the same for Americans of all ages,” said Joan Fernandez, Principle at Edward Jones. “We don’t know the future of healthcare costs and we can’t predict the outcome of elections but we do have control over how we plan for retirement. This survey reinforces the need for a solid retirement plan that addresses the issues and fears that Americans have about saving for retirement.”