Do you hope to retire one day?  If you’re like most Utahns, the answer is a resounding yes.  AARP surveyed 1000 Utahns age 25-64, and 89 percent hope to retire from working completely.  (The survey, Making Retirement a Reality:  Helping Utahns Age 25-64 Save and Take Control of Their Future was conducted in December of 2014.)  Yet one in six of has less than $5000 in savings.  Given that the average lifespan is now nearly 80, it’s sobering to wonder how these people will have financial security in their retirement years.
Survey charts
AARP Utah unveiled a statewide survey that showed a growing concern over retirement savings in the state.  The survey, Making Retirement a Reality:  Helping Utahns Age 25-64 Save and Take Control of Their Future, engaged 1,000 Utahns age 25-64 and found that 85 percent wish they were able to save more money for retirement and 77 percent support the idea of a state-created retirement plan for those who lack access at their place of work.  One in six of those surveyed has less than $5000 in savings. Currently in Utah, 53 percent of private sector workers [1] – and 21 percent of those surveyed -- do not have access to a retirement savings plan at their place of work.  The results were presented during AARP Utah’s Democracy Day event at the Utah State Capitol on February 12.
From the November 2013 AARP Bulletin
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