Four in ten say they can never retire

April 25, 2011

Lazzy Feet on a Blue Ocean Beach vacation

Image by epSos.de via Flickr

The American Instistute of CPAs recently released results of a poll that  asked people about their retirement expectations. The survey of 1005 working American citizens came back with a depressing result: for the second year in a row, four out of ten say they don’t think they will ever be able to retire. Other results are just as depressing: 55% don’t know how much they need to have in savings to retire, and many who think they know are way off in their estimates. Read the full story on the AICPA web site for more.

The survey didn’t even ask about affording health care in retirement – but we know from other surveys that mostly as a result of the closing of the Medicare Part D donut hole over the next few years, that cost has actually gone down a bit. Long term, however, rising health care costs are still an issue for retirees and the underlying factor in yearly insurance premium increases. That’s why we’ve been writing about things like the CMS proposed rules for ACOs and the CMS Center for Medicare and Medicaid Innovation on this blog. Medicare is still the most cost-effective way to deliver health care to seniors – and we hope that CMS can use its influence to accelerate the development and dissemination of innovations that will help slow or reverse rising health care cost trends.

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