Unum Research Shows More Americans Unsure of Financial Future

(LegalLaw247.com, May 14, 2013 ) Manchester, UK -- The fifth annual survey of working Americans, which was handled once again by Unum, has shown that more employees are now feeling the less financially secure than in years past. More than 40% have now postponed retirement, and another half are saying they are not confident that they have the ability to rely upon savings for all future expenses. Even more state they cannot rely on their savings and pension to handle the possibility of an onset of illness or serious injury.

The survey of nearly 1,900 working individuals found that over a third do not feel they are financially secure. There was a 16% marker of individuals who feel “not at all secure”, which has increased from the 2011 numbers. Women have shown to be more likely to feel vulnerable to

the financial restrains, according to the numbers, with 40% stating they felt insecure. Men gave the same answer at a tally of 33% overall.

“Anxiety over finances increased in 2012, indicating that the modest improvements to our economy are not yet being felt by working Americans,” said Barbara Nash, vice president of research for Unum (NYSE: UNM).

The economy slightly rebounding in the last year and start of the new year does little for many who were so negatively impacted by the economic decline felt across the nation and globe over the past half-decade.

Researchers involved in the study conducted online in December of last year noted that participants of the survey noted an average of 67 years being retirement age. That is a 2.6-year increase from five years prior. Those who are aged 55 or older expect to retire well after they are 70, while those between the ages of 18 and 34 believe they will finish their careers at 65.

Citation of personal finance concerns was the leading reason for the increase in age according to employees, at 57% overall.

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