In fact, the employees said they fear retirement more than:
- divorce (64%)
- death (61%)
- getting fired (54%)
- falling into poor health (53%).
These fears come amid financial concerns in the workplace, including becoming a financial burden (39%) and not having enough saved for medical emergencies or unexpected costs (39%) after retirement.
“Our survey reveals that financial stability is a primary concern among participants, with many fearing they won’t be able to afford to retire and keep up with the bare essentials like healthcare, or that they might become a financial burden to their loved ones,” said Jasmine Escalera, career expert at LiveCareer, in a statement.
Financial anxieties
According to the report, 59% of employees are concerned about the rising cost of long-term care in retirement.
Another 52% are worried about making poor investment decisions and losing retirement funds. Others cited these retirement-related concerns:
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