{"id":530209,"date":"2022-12-22T08:09:00","date_gmt":"2022-12-22T05:09:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/this-group-is-drastically-underprepared-for-retirement\/"},"modified":"2022-12-22T08:09:00","modified_gmt":"2022-12-22T05:09:00","slug":"this-group-is-drastically-underprepared-for-retirement","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/this-group-is-drastically-underprepared-for-retirement\/","title":{"rendered":"#: This group is drastically underprepared for retirement\u00a0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29818836917\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29818836917\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/this-group-is-drastically-underprepared-for-retirement\/#%E2%80%9C_This_group_is_drastically_underprepared_for_retirement_%E2%80%9C\" >&#8220;: This group is drastically underprepared for retirement\u00a0&#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/this-group-is-drastically-underprepared-for-retirement\/#Nearly_half_say_they_expect_to_retire_at_age_70_or_older_%E2%80%94_or_do_not_plan_to_retire_at_all\" >Nearly half say they expect to retire at age 70 or older \u2014 or do not plan to retire at all<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/this-group-is-drastically-underprepared-for-retirement\/#Jessica_Hall\" >Jessica Hall<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9C_This_group_is_drastically_underprepared_for_retirement_%E2%80%9C\"><\/span>&#8220;: This group is drastically underprepared for retirement\u00a0&#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Nearly_half_say_they_expect_to_retire_at_age_70_or_older_%E2%80%94_or_do_not_plan_to_retire_at_all\"><\/span>\n  Nearly half say they expect to retire at age 70 or older \u2014 or do not plan to retire at all<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001501310\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001501310\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Rural workers often lack 401(k) plans and have less retirement savings than their urban and suburban counterparts, putting them at risk of retiring later or not at all.<\/p>\n<p> According to research from the nonprofit Transamerica Center for Retirement Studies (TCRS), in collaboration with Transamerica Institute, rural workers have lower <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n household incomes than suburban and urban workers ($65,000, $88,000, $90,000, respectively).<\/p>\n<div class=\"paywall\">\n       Suburban and urban workers are more likely to have saved $250,000 or more (30%, 26%, respectively), compared with only 18% of rural workers. Of concern, 13% of rural workers have no household retirement savings, which is a significantly higher proportion than that of urban and suburban workers (8%, 6%, respectively).<\/p>\n<p>\u201cIn recent decades, economic activity in the U.S. has become increasingly concentrated in urban and suburban areas. As a result, rural workers are getting left behind regarding employment opportunities and retirement preparations,\u201d said Catherine Collinson, CEO and president of Transamerica Institute and TCRS.<\/p>\n<p>Rural workers account for about 16% of all workers in the U.S., according to research from the University of New Hampshire.<\/p>\n<p>Only 66% of rural workers are offered a 401(k) or similar plan by their employer, and 72% of them participate. In comparison, 74% of both urban and suburban workers are offered a plan, and about 8 in 10 participate, the research found.<\/p>\n<p>Rural workers have saved $33,000 in total household retirement accounts, while urban workers have saved $67,000 and suburban workers have saved $82,000 (estimated medians).\u00a0\u00a0<\/p>\n<p>Rural workers also lack confidence in their ability to retire with a lifestyle they consider comfortable. Nearly three in four urban workers are confident in their ability to retire with a comfortable lifestyle, compared with 71% for suburban and 58% for rural workers.<\/p>\n<p>Only 45% of rural workers expect to retire at age 70 or older or do not plan to retire, and 30% expect Social Security to be their primary source of retirement income.\u00a0\u00a0<\/p>\n<p>\u201cAmid concerns about Social Security, the dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance of traditional defined benefit pensions, and intensifying expectations that workers self-fund a greater portion of their retirement income, many workers are inadequately saving and are at risk of not achieving a financially secure retirement,\u201d Collinson said. \u201cEnhancing retirement security involves addressing demographic disparities, removing structural barriers, and future-proofing the system so everyone can retire with dignity.\u201d\u00a0<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>When asked about current financial priorities, more than half of all three demographics cited paying off debt as a main goal. Suburban workers were more likely to cite saving for retirement as a goal compared with urban and rural workers. About four in 10 workers across the three demographics cited building emergency savings as a financial priority.<\/p>\n<p>Rural workers (38%), however, were more likely to cite just getting by to cover basic living expenses, compared with urban and suburban workers (25%, 24%), the study found.<\/p>\n<p>Workers across all the three demographics had different retirement fears, with rural workers more likely to fear Social Security being reduced or ceasing to exist (45%) and not being able to meet the basic financial needs of their families (35%).\u00a0<\/p>\n<p>In comparison, suburban workers are somewhat more likely to fear possible long-term care costs, cognitive decline, dementia or Alzheimer\u2019s disease, and losing their independence. Urban workers are somewhat more likely to fear feeling isolated and alone, lack of affordable housing, and finding meaningful ways to spend time in retirement.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jessica Hall\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/jessica-hall\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:jessica.hall@marketwatch.com\",\"text\":\"jessica.hall@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jessica_Hall\"><\/span>Jessica Hall<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"274_MW\" author-name=\"Jessica Hall\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fthis-group-is-drastically-underprepared-for-retirement-11671649349%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-716E-87E8A2A9F996%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;: This group is drastically underprepared for retirement\u00a0&#8220; Nearly half say they expect to retire at age 70 or older \u2014 or do not plan to retire at all Rural workers often lack 401(k) plans and have less retirement savings than their urban and suburban counterparts, putting them at risk of retiring later or not&#8230;<\/p>\n","protected":false},"author":1,"featured_media":530210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-690254\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-530209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/530209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=530209"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/530209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/530210"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=530209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=530209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=530209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}