According to a recent survey, retirement confidence dropped almost 20 percent this September after remaining steady for nearly three years. The poll returned its most pessimistic results since it began in 2008.
That year, 46 percent of respondents were confident they could meet their basic living expenses during retirement. In 2010, more than 40 percent believed they could do so, but less than a quarter were confident of their ability to afford retirement in the most recent poll.
"Although the recession officially ended in 2009, average Americans feel that the downturn has not ended for them, which is substantially eroding their trust in their retirement future," said the research firm's president, Wes Thompson.
One out of five individuals polled told researchers they do not anticipate retiring at any point. Confidence dropped in all five areas measured in the poll, which were employee benefits, the economy, government benefits, personal finances and personal health.
One bright spot was the relatively higher confidence Americans with long-term insurance or annuities held about their ability to financially sustain retirement. These respondents were more confident at every wealth level, indicating that those who plan ahead can secure their futures.
