Retirement

Americans, particularly baby boomers, are more nervous about and unprepared for their retirement today than at any time in history.

The Republican Party has staged a mind-numbing 18 presidential debates this year, and more questions and answers lie ahead as the primaries and general election get into high gear in the new year.

As someone who has reviewed hundreds of retirement-related studies, I admit to being quite jaded with respect to retirement statistics: Various versions of "people are not saving enough", with no one telling me what I do not already know. However, I have to admit these figures - excerpted from pbs.org - caught even me off guard. See if you are as shocked as I was by these five statistics:

The focus of discussions in the defined contribution/401(k) world seems to have shifted overnight from process to outcomes.

For once, it’s the whippersnappers who are behaving more wisely. At least when it comes to saving, Generation X and Generation Y workers are more diligent than their peers.

The Insured Retirement Institute Friday responded to the Federal Insurance Office’s request for comment on how to modernize insurance regulation in the U.S., saying that the nation’s insurance regulatory system needs to be modernized — and insurance products, most notably annuities and other insured retirement income products, need to be made available to underserved populations.

The 11th quarterly Allstate-National Journal Heartland Monitor Poll found that near-retiree baby boomers have pushed back initial plans to retire at age 60, to 66. Additionally, 68% of baby boomers expect to work in some form after retirement, the survey of 1,200 Americans found. Only 11% of current retirees currently work.

Against the backdrop of public policy debates on the gap between rich and poor, a new survey of affluent Americans from Wells Fargo & Company shows that many of the affluent are feeling some of the same deep insecurity felt by middle-income Americans about their ability to retire in comfort.

Americans' trademark optimism is intact, at least in regard to retirement, despite the economic turbulence that is reportedly forcing many people to work longer and make do with less. In fact, many retirees found only one downside.

Not only are older American workers (age 50 and over) expecting to work longer, but many now say they expect to never retire, according to the nonpartisan Employee Benefit Research Institute. Data suggest the trend may be tied to the recent economic recession.