According to a new survey published by the Transamerica Center for Retirement Studies, almost seven in 10 middle-class Americans are confident that they will be able to fully retire with a comfortable lifestyle.
Why it matters: The survey — titled Retirement Outlook of the American Middle Class — examines the well-being, personal finances, and retirement expectations and preparations of U.S. residents with annual household incomes between $50,000 and $199,999.
By the numbers: The middle class’s top priorities include enjoying life (67 percent), being healthy and fit (62 percent), focusing on family (45 percent), planning for their financial future (44 percent), leading a more sustainable life (28 percent), their career (28 percent), giving back to the community (24 percent), pursuing lifelong learning (23 percent) and serving as a caregiver (16 percent).
Go deeper: People in the middle class expect diverse sources of retirement income including self-funded savings from 401(k), 403(b), IRAs or other savings and investments (net 79 percent), Social Security (72 percent), a company-funded pension plan (29 percent), income from working (27 percent), home equity (17 percent) and an inheritance (13 percent).
- More than six in 10 people in the middle class (62 percent) agree that they are building a large enough retirement nest egg, including 24 percent who strongly agree and 38 percent who somewhat agree.
