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U.S. workers remain optimistic about retirement

Unfortunately, the outlook isn't as positive when they're asked about their immediate financial situation.

Man holding coin jar Despite their optimism, non-retirees may be thinking a bit more about subsidizing traditional retirement income streams with part-time work. (Photo: Shutterstock)

As COVID-19 impacts jobs and investments around the country, you would assume that Americans are worried about how this pandemic could impact their financial plans for retirement. But according to a new Gallop poll, the majority of Americans say they are not that concerned.

According to the 2020 installment of Gallup’s annual Economy and Personal Finance survey, conducted from April 1-14 of this year, non-retired Americans still believe that the income sources they have traditionally relied upon in previous years to financially be able to retire, are still on track. The poll shows that as high as 88% of the responders to the survey are still comfortable relying on Social Security as a primary source of retirement income, and 80% on their 401(k) payout. These numbers echo the poll’s numbers from last year, pre the COVID-19 pandemic.

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Heather Nevitt

Heather Nevitt

Heather D. Nevitt is the Editor-in-Chief of Corporate Counsel and Global Leaders in Law.

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