The COUNTRY Financial Security Index®

Eighty-one Percent of Americans Have Fears About Retirement

While most Americans feel unprepared for retirement, most who have fully reached the milestone are happy

BLOOMINGTON, Ill., May 18, 2016 /PRNewswire/ — Uncertainty looms over working Americans who fear they won’t be able to realize a comfortable retirement.

Eighty-one percent of those in the workforce are worried about their retirement preparedness, but meanwhile, current retirees are largely happy with the retirement they are living.

In fact, nearly two-thirds (67percent) of retirees are satisfied with their retirement, according to the latest COUNTRY Financial Security Index.

However, that leaves one-third (33 percent) of retired Americans who say something is holding them back from experiencing the retirement they’ve always desired – while nearly one in four (23 percent) say they are not living their dream retirement at all.

“We found that money issues are driving dissatisfaction in retirement among the third of Americans who report being unhappy,” says Joe Buhrmann, manager of financial security at COUNTRY Financial. “Many retirees underestimate the cost of their basic living expenses in retirement, and as a consequence spend more of their nest egg just to get by. We also see that some current retirees do not have enough to afford the things they want to do in retirement.”

Nightmares overshadow retirement daydreams

American workers are extremely worried about their savings being adequate to support them in retirement and fear:

  • Running out of money completely
  • Not having the money to pay for the things they want to do
  • Not being able to afford medical and or long-term care expenses

Their uncertainties are fueled by underlying worries that they might not be on the path to their dream retirement – or that their path could easily be derailed. While four in 10 say that not saving enough will be what sets them back the most, 28 percent worry about the loss of an income earner and 18 percent live in fear of another economic recession.

uncertainties are fueled by underlying worries that they might not be on the path to their dream retirement

“No one can predict future financial obstacles, but having a well-rounded plan can offer workers peace of mind that they are on track for retirement,” says Buhrmann. “It’s important to save and invest to build your nest egg, but workers should also take steps to manage risks and protect what they have in order to have a comprehensive financial plan for retirement.”

Defining (and achieving) the dream retirement

The things most Americans look forward to in retirement include having the ability to travel more, working less and having more time to spend with loved ones.

“Of those who aren’t living their dream retirement, 57 percent say it’s because they don’t have enough money for the things they would like to do,” Buhrmann says. “For those approaching retirement, it’s important to understand your living expenses first to make sure you are also saving enough to afford additional costs, such as travel.”




The COUNTRY Financial Security Index®
Since 2007, the COUNTRY Financial Security Index has measured Americans’ sentiments of their personal financial security. The Index also delves deeper into individual personal finance topics to better inform Americans about the issues impacting their finances. Survey data, videos and analysis are available at and on Twitter at @helloCOUNTRY.
The COUNTRY Financial Security Index was created by COUNTRY Financial and is compiled by GfK, an independent research firm. Surveys were conducted using GfK’s KnowledgePanel TM, a national, probability-based panel designed to be representative of the general population and includes responses from approximately 1,000 U.S. adults for national surveys. The margin of sampling error for a survey based on this many interviews is approximately +/- 3 percentage points with a 95 percent level of confidence.
About COUNTRY Financial
The COUNTRY Financial group ( serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home, business and life insurance to retirement planning services, investment management and annuities.