MassMutual Study: Retirees Worry Less About Money, More On Health

MassMutual Study: Retirees Worry Less About Money, More On Health

Retirees say they are considerably less concerned than pre-retirees about their money lasting throughout retirement but worry more about the financial and lifestyle implications of declining health, according to new research from Massachusetts Mutual Life Insurance Co. (MassMutual).

To better understand the income needs and expectations of those approaching retirement as well as retirees, MassMutual commissioned an online survey of pre-retirees within 15 years of retirement and of retirees no more than 15 years into retirement using Greenwald & Associates, an independent research firm.

The results show that retirees are confident that their retirement income will last as long as they live and that they will have enough money to meet their retirement lifestyle goals, with nine in 10 retirees saying they feel confident compared to roughly half of pre-retirees, according to the MassMutual Retirement Income Study. Pre-retirees worry most about not having enough money to enjoy themselves, four times more than retirees (28 percent vs. 7 percent), who are most concerned about healthcare costs (29 percent).