(The Center Square) – Americans overall, including Washingtonians, feel retirement is increasingly out of reach, according to a recent Axios-Ipsos poll.
The poll, which took place from June 7 to 9, surveyed more than 1,200 adults. Several Washington respondents told Axios they thought they had enough money for retirement, but recent inflation and market volatility made them uncertain.
One person Axios spoke with said a recent layoff made the goal of retirement at 65 seem further from reach.
The site spoke to one recent retiree who said COVID-19 affected his 401(k), leaving him concerned that he might find work or use savings.
Two-thirds of Washington voters ages 25 to 64 are anxious about saving for retirement, according to a 2020 AARP survey. More than 1 million Washingtonians lacked access to a workplace retirement savings plan that year, according to a Washington State Department of Commerce report.
Washington’s state-run pension funding ratio, however, was more than 100% in 2022.
One in five Americans thinks they will never retire, according to the Axios poll, 70% of which said this is because they cannot afford it. According to CNBC, up to 57 million Americans lack a workplace retirement savings plan.
Just 36% of unretired Axios respondents older than 55 will retire at the age they expected. More than 50% said they agree society forgets about retired people.
