- Two out of five (41%)
Atlanta area pre-retirees expect they will need to work during retirement in order to afford their lifestyle or make ends meet. Another 40% say they’ll work in retirement because they want to. - Fifty-seven percent of pre-retirees in
Atlanta plan to stay in the area when they retire; their top three reasons for staying are family and friends nearby, good weather, and low cost of living. Retirees cite similar reasons for settling in the area.- Seventy-one percent of retirees cite being close to family and friends as a major factor for retiring in
Atlanta . Good medical facilities and not having to relocate are also important. - Among 10 major cities including
Atlanta , those inWashington are least likely to retire there (38%) and those inChicago are most likely (65%).Atlanta is close toMiami (55%) andPhiladelphia (59%).
- Seventy-one percent of retirees cite being close to family and friends as a major factor for retiring in
- About a third of
Atlanta respondents (retirees and pre-retirees) rate health care facilities in their area as among the best in the country.- In
Houston , 70% think their health care facilities are among the best. InMiami just 12% do. Atlantans (32%) are closest to Washingtonians (31%).
- In
- The median amount
Atlanta pre-retirees have saved for retirement is only 13% of what they believe they actually need.Atlanta pre-retirees believe they need$750,000 for retirement; the median amount saved is$100,000 . - Almost 50% of
Atlanta area pre-retirees say their biggest fear about retirement savings is that they will do all the right things today and it still won’t be enough. - Seven out of ten (72%)
Atlanta area retirees are confident they will have enough money to live the lifestyle they want throughout retirement.- Despite this confidence, 28% of
Atlanta retirees agree that they need to significantly cut back spending today in order to have enough money throughout their retirement.
- Despite this confidence, 28% of
- Among
Atlanta respondents with children, 41% agree that they will not be able to leave an inheritance to their children due to the money needed to support their retirement. -
Atlanta pre-retirees under 65 are evenly split 50/50 on whether it is more likely that the Falcons will win the Super Bowl by the time they are 65 or they will be able to retire at 65!
About the Survey
On behalf of Wells Fargo Retirement,
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Copyright: | Copyright Business Wire 2012 |
Source: | Business Wire, Inc. |
Wordcount: | 651 |
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