Retirement outlook: rocky.Prudential Financial has found in a new study, "Roadblocks to Retirement," that daily financial demands and discretionary spending are slowing down retirement saving in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . And the past five years haven't helped: Some 59% of survey respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. said the economic environment and their personal situations have hurt their retirement prospects. Although 70% expect to work during their first 10 years of retirement, circumstances forced 40% of current retirees to become unemployed. Moreover, 72% of involuntary involuntary adj. or adv. without intent, will, or choice. Participation in a crime is involuntary if forced by immediate threat to life or health of oneself or one's loved ones, and will result in dismissal or acquittal. INVOLUNTARY. retirees were financially unprepared to retire and were in worse health than voluntary retirees. Key findings of the study include: * Americans "spend like there is no tomorrow." * Retirement may come ahead of schedule due to health concerns, downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing and family emergencies. * Many may have unrealistic expectations about the quality of their retirements. * Members of each age and ethnic cohort cohort /co·hort/ (ko´hort) 1. in epidemiology, a group of individuals sharing a common characteristic and observed over time in the group. 2. would value more professional advice. |
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