Editor’s note: Findings are based on a March survey of 521 American consumers ages 60 to 70, drawn from the general population. Among the respondents, 68% said they were currently retired, while 58% said they were currently enrolled in Medicare.
Five things to know:
1. The survey found that 63% of Americans aged 60 through 70 see healthcare costs as a top worry in retirement, ahead of running out of money (58%) and inflation (53%).
2. Worrying about costs is affecting retirees’ lifestyles, with concerns about healthcare costs causing 55% of older Americans to spend less than they would otherwise.
3. Only 33% of those currently retired saved any money for healthcare costs they may face after retiring.
4. Among current retirees, only 42% believe they will have enough money to last through retirement. That figure is 29% for those who are not yet retired.
5. Overall, 46% of respondents have non-mortgage debt; among these, nearly 80% are in debt $5,000 or more.
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