One of the biggest challenges facing seniors is how to save enough money for retirement which will be enough to last 15, 20, and even 30 extra years of life. But with the economy in North America continuing to recover, seniors are increasingly optimistic about their ability to save and pay for their post-working lives, according to a recent article in the Houston Chronicle, citing a recent study.
During the worst part of the recent economic recession, more than half of Americans age 55 and over said they were â€œworriedâ€ about their personal financial outlook, but that number has decreased to 39 per cent. As well, increasing numbers of Americans say they are hopeful about their retirement years. And although not as many people are optimistic as compared to before the recession, things are getting a lot better.
"It's clearly a shift in how people view the quote-unquote Golden Years," said Mary Jane Fortin, president of American General, which was part of the study.
When seniors are more optimistic about their financial future, they are able to look forward to a new stage of their lives, where they can downsize from managing a home and even potentially move into independent living and active lifestyle communities.