February 22, 2019
The ING International Survey Savings 2019, the eighth in an annual series, surveyed 14,695 people in Europe, the US, and Australia, and discovered the majority worry about not having enough money in retirement. The findings show that many people are “sleepwalking” into a financial crisis with little or no savings toward their golden years.
Half of the retirees in Europe tell ING that their standard of living has dramatically declined due to their underfunded retirement plan. Two in five of those in Europe who have not yet retired say they expect to get less in retirement than they paid into their pension.
And more than half of Europeans who have not yet retired tell ING they expect to work in the gig-economy to continue generating income streams well into their retirement.
The shocker: One in four Europeans had no savings at the end of 2018 when this report was conducted, making it virtually impossible to save towards retirement. Beyond Europe, a similar ratio of non-savers existed in the US and Australia.
ING said the worst outlooks for people were in Spain and France, where more than two-thirds of people said they might not have enough money for retirement. The survey notes that the Dutch are the most optimistic about their retirement. In the US, two-thirds of respondents said they worried about not having enough savings for retirement.
The Bloomberg chart shows the Dutch have the brightest outlook on retirement because they are saving much longer. The average respondent in the Netherland retires around 67 years old.
- A d v e r t i s e m e n t
Read the report our government doesn’t want you to know about. You won’t find it in the mainstream media, this is the only place you can get it for free. If you’re serious about protecting your family, you need to read this research now.
The survey suggested that working longer…