3 Retirement Beliefs a Majority of Americans Share

In a time known for its stark division of opinions, many of us agree about some key things related to retirement.

Recently, Logica Research published a new Future of Money report highlighting changes in people’s financial lives related to work, retirement and investing. The survey polled 1,000 U.S. adults, as well as an augment of 200 older members (16 to 24 years old) of Generation Z.

The report found that a majority of Americans are in lockstep about three beliefs related to our golden years. Following are the convictions that unite us.

I will never be able to save enough to have a comfortable retirement

Percentage who share this belief: 51%

It is heart-wrenching that more than half of Americans say they are doomed to a substandard retirement. Many workers apparently feel hopeless whenever they ponder the need to grow their savings.

But the truth is that everybody can achieve the goal of a rich, rewarding post-work life. More on that later.

I will continue working and never retire

Percentage who share this belief: 52%

It is likely that many of the folks holding this view also are pessimistic about their ability to save. For that reason, they expect to work until they drop.

But for others who agreed with this statement, the plan to keep working could be rooted in a love of their job.

Staying at your job longer not only builds your wealth but may also guard your mind, as we reported in “Retiring at This Age May Protect Brain Function.”

I am not saving for retirement now because I know I can generate income during retirement

Percentage who share this belief: 54%

It is laudable that more than half of Americans plan to bring home the bacon well into their golden years.

Just be aware that things can change fast. No matter how much you want to work, long-term illness, the need to be a caregiver to your aging spouse or other changes in circumstances can upset the best-laid plans.

So saving for retirement should always be a top priority, no matter how long you plan to work.

If you are in retirement and hope to land a job to bring in extra cash, check out “20 Great Part-Time Jobs for Retirees.”

The truth: You can become financially independent and retire

Contrary to the fears of these poll respondents, you can build a secure retirement. If you start young, it’s relatively easy, as the power of compounding can work wonders for those who save and invest even modest amounts of money.

We explain more about the miracle of compound interest in “14 Money Terms to Learn So You Don’t Die Broke.”

Even later in life, you can generate tremendous wealth, especially if you are ready to become a “super saver.” For more on how to do this, check out “4 Sacrifices Super Savers Make on the Road to Getting Rich.”

Finally, if you are truly serious about building the retirement of your dreams, check out the Money Talks News retirement course The Only Retirement Guide You'll Ever Need.

This 14-week course is intended for those who are 45 or older, but everyone can benefit from taking it.