Survey: Middle-Income Americans May Fall Short in Retirement

March 20, 2007 ( - Thirty-four percent of Americans polled said the greatest barrier to saving for retirement is not having enough money to save and invest, while 17% cited paying off debt as a barrier, according to a survey by COUNTRY Insurance & Financial Services.

The survey of more than 3,000 households also found that nearly half of respondents said those earning a mid-range income cannot save enough for a comfortable retirement living, while 37% said it is possible.

Those feelings differ between men and women, with women leaning to the more pessimistic side. Nearly seven in 10 women said it does not look good for middle-income Americans in retirement, where only five in ten men said the same.

The survey results show a disparity between what respondents say they should be doing, and what they actually do. Seventy-four percent said people should start saving for retirement before age 30; however, 62% of the same respondents waited until after age 30 to save or have not yet started saving for retirement.

For the full results of the survey go here .