Retirement security issues are on voter’s minds as we approach the mid-term elections. Almost three quarters of voters are concerned about being able to maintain a comfortable standard of living throughout retirement, according to a new survey of 917 registered voters.
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Majorities of workers of all ages are concerned about their ability to retire, with those on the verge of retirement the most concerned, the poll conducted by Lake Research Partners and Public Opinion Strategies and commissioned by Americans for Secure Retirement found. Republicans (76 percent) were generally slightly more concerned about their future retirement security than Democrats (71 percent) and Independents (67 percent).
Almost half (45 percent) of the registered voters surveyed said a political candidate’s commitment to addressing retirement concerns was very important to their voting decision. The majority of workers age 50 and older (53 percent) said retirement concerns were a voting issue.
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Voters have valid reasons for being concerned, according to a new study. The gap between what American workers ages 32 to 64 have saved and what they will need in retirement to maintain their current standard of living is a staggering $6.6 trillion, Retirement USA, a coalition of workers’ groups, announced this week. The figure, calculated by the Center for Retirement Research at Boston College using Federal Reserve Board data, takes into account pensions, Social Security, 401(k) balances, and other savings and investments.
Tell us, does a candidate’s position on retirement issues influence how you vote?