Twenty-two percent of Americans fear that they will never be able to retire, GOBankingRates found in a survey. Americans’ next biggest financial fear is living paycheck to paycheck, cited by 20%. The next top fears are living in debt forever (18%), losing their jobs (16%), losing all of their money in the stock market (11%), never being able to afford a home (8%) and always having a low credit score (4%).
For men, the top three concerns are never being able to retire (23%), followed by living paycheck to paycheck, living in debt forever and losing their jobs (all three tied at 17%), and losing all of their money in the stock market (14%). Women’s top three concerns are living paycheck to paycheck (25%), never being able to retire (20%) and living in debt forever (18%).
“As our study indicates, money is clearly on the minds of most Americans,” says Cameron Huddleston, Life + Money columnist for GOBankingRates. “Many are finding it challenging to stick to a budget, plan for retirement or take other steps to get their finances under control. That’s why it is so important for people to take the time to educate themselves about personal finance, or even get the help of a financial planner, so that they can overcome these challenges.”