Older Workers Are Underestimating Their Budgets for Retirement
By:
Mary Ellen Cagnassola
Mary Ellen Cagnassola
Reporter | Joined May 2024
Has also written:
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Editor:
Julia Glum
Julia Glum
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There’s no perfect formula for a comfortable retirement — but even so, workers approaching retirement age may be majorly underestimating how much they’ll need to budget.
A recent report from the Nationwide Retirement Institute found that the expectations of retirement-age workers don't always line up with the financial realities of those who are already retired. In a survey of 1,000 U.S. adults aged 60 to 65, retired respondents said they spend a lot more on basic expenses than those who are still working predict they’ll need.
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Retirement expectation vs. reality
