30-somethings are growing increasingly uneasy about their financial future, Yahoo! News is reporting. Americans in their 30s have started to worry about how secure they will be when it comes time to retire, a worry that plagued baby boomers not too long ago.
“I think most people would expect those on the cusp of retirement — ages 55 to 64 — would be the most concerned about financing their retirement, (so) the finding that the peak is now occurring among adults roughly 20 years younger is notable,” Pew Research Center’s Richard Morin explained. “Moreover, the wealth data showing those approaching or in early middle age had lost the most in the past decade suggests that their concerns are not misplaced.”
In a recent survey, nearly 38 percent of adults expressed concern about not having enough money to secure a comfortable retirement. This figure is up from 25 percent in 2009. Although 30-somethings are genuinely worried about their financial well-being, concerns about retirement were up across the board. However, those individuals in their late 30s seemed more uneasy than everyone else.
According to the Long Island Business News, it’s unclear whether or not the financial concerns expressed by those in their 30s will continue in the next few years. Richard Morin explained that, given the current state of the housing market, chances are these anxieties could continue well into the future.
The Pew report also revealed that the average wealth of Americans between the ages of 35 and 44 dropped 56 percent from 2001. In those days, the median wealth for this age group was perched at around $56,000. The recent survey of roughly 2,500 adults revealed that this number now sits at approximately $46,000.
Although 30-somethings are now the most uneasy about retirement, baby boomers held this title just three years ago. Do you feel you have enough money stashed away for a comfortable retirement when the day comes?