Posted by With 2020U.S. presidential electionThe election campaign has entered a new stage, and major financial research institutions have successively released research data on retirement that are closely related to everyone.American Life Insurance GuideThe reports of different organizations have been sorted out and summarized into the following 8 hot topics.
1. More than 50% of Americans believe that the current situation is worse than in 08
Edman Financial Engine Group recently conducted an investigation. The core question is, "Compared with 2020, which year will the economic crisis be more severe?"More than half of American adult respondents believe thatU.S. Coronavirus OutbreakThe social and economic changes brought about,The destructive power exceeds the recession caused by the 2008 financial crisis.
More than one in ten respondents said that during this time, they withdrew money from retirement accounts or savings accounts to pay for expenses.39% of people gave money to friends or family members to help them tide over the difficulties.And 51% of people used to pay all kinds of bills.
2. Only a quarter of people can maintain their current standard of living after retirement
According to the well-known retired best-selling author Ken Deichtwald, due to the economic impact of the new crown virus epidemic, three-quarters of Americans need to continue to work after retirement, move to low-cost housing, and reduce other expenses. To maintain the original lifestyle and quality.
He also discovered at the same time,80% of Americans don’t know exactly how much money should be prepared for retirementHe called this an "irresponsible" performance.
3. There is no payroll tax, and social security pensions will be exhausted in 2023
On August 2020, 8, the current US President Trump issued an executive order,Allow employers to temporarily postpone payment of employees’ payroll taxes.Trump said that if he is re-elected, he will cut payroll taxes permanently.
Stephen Goss, chief actuary of social security, then wrote to the Senate stating that if the president abolishes the payroll tax,Social Security Trust Fund will be used up permanently by 2023.Without the intervention of Congress, retirement benefits would be immediately reduced by XNUMX%.
In actual operation,The deadline for the 6.2% payroll tax deferment policy is December 2020, 12.
4. XNUMX% of office workers say they don’t have enough money to retire
The National Teachers Insurance and Annuity Association reported that in the new employee survey, 91% believed thatSave money for retirement, Is the current financial goal.64% think this is the most important goal at the moment.
At the same time, 6% of the respondents said that they are getting farther and farther away from this goal, and 3% of them think that it is due toU.S. Coronavirus OutbreakCaused by direct impact.
5. "Leaving the United States" has become a hot spot for retirement, and the number of followers has surged
New crown virusGhosts make us feel scared, but for retired people or those who are about to retire, the sense of fear will be stronger.
People over the age of 65 are at high risk of death from the new crown virus. The new crown virus epidemic has also impacted the health industry that retirees care about, social security pensions, retirement medical insurance, personal savings, and government budgets and expenditures.
In addition, retired people in the United States also facePresidential electionThe social contradictions brought about by the plan, the price of the above, and the problem of general uncertainty.
The global living conditions pointed out that since May 2020,Search interest for "leave the US" rose by 1600%,Become the focus of the near future. 45% of respondents said thatLeaving the United States is to save money.
6. 69% of people "extremely" regret selling their stocks
Since the outbreak of the new crown epidemic in the United States in March, MagnifyMoney has conducted a follow-up survey on the market. 3% of investors said they had sold at least one stock, while 42% of investors said they had sold all their investments.
Among the crowd selling stocks,69% of people "extremely" regretted the original operation.
Data source: US Department of Labor report on November 11
7. Three million people were forced to retire early due to the impact of the epidemic
From March to August, about 3 million elderly people were permanently unemployed. With the deteriorating economic situation and poor health, re-employment has also become a major problem.
According to the SCEPA report,38% of unemployed elderly people stopped looking for work and withdrew from the labor market.And the other 110 million people will do the same in the future.
8. The results of the 2020 presidential election will determine the future of Americans
U.S. presidential electionThe election battle has entered a white-hot stage, but whether it is Trump's re-election or the election of Biden, both sides will have their own economic policies after they are in power, which will have a clear impact on every American.
And can't confirmPresidential electionAs a result, the uncertainty of the future has increased, which has increased concerns for the retired family.
The survey results of Edman Financial Engine Group show that72% of the interviewees believe that their future financial situation is heavily dependent on the results of the 2020 US presidential election.(End of the article)
appendix
1. "Over Half of Unemployed Older Workers at Risk of Involuntary Retirement", SCEPA, 08/05/2020, https://www.economicpolicyresearch.org/jobs-report/over-half-of-older-workers-unemployed- at-risk-of-involuntary-retirement
2. "The Annual International Living Retirement Survey", https://internationalliving.com/the-annual-international-living-retirement-survey/
3. TIAA Public Portal
