When it comes to retirement, Americans worry about uncertainties they cannot control, like a higher cost of living or changes to the retirement system.
As wage growth outpaces inflation, Americans have reason to be more optimistic about long-term goals like retirement.
While 88% of workers expect Social Security will be a source of retirement income, almost all of today's retirees, 91%, say they depend on those benefit checks.Changes to Social Security benefits may be on the horizon, as the program's trust funds face depletion dates in the next decade that make benefit cuts of at least 20% inevitable if Congress does not take action. Meanwhile, Medicare's trust fund that covers Part A hospital insurance is due to run out even sooner.
Social Security is always a top issue in polls AARP conducts of its members, Nancy LeaMond, the interest group's executive vice president and chief advocacy and engagement officer, said during a Wednesday press briefing. The nonprofit organization, which represents Americans 50 and up, is also pushing for lawmakers' positions on family caregiving, which tends to contribute to women's economic insecurity in retirement, LeaMond said.
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