2/3 of Baby Boomers to Rely on Social Security

Even though there have been warnings issued by financial planners, even relatives and the media; two-thirds of Baby Boomers are "very" or "extremely" likely to rely on social security for their retirement.

A poll conducted by the Associated Press and LifeGoesStrong.com, 44 percent of Americans between 45 and 65 do not feel that they will have the resources to live comfortably when they retire. Similar results were found in a study conducted by the Employee Benefit Research Institute, showing that Americans are more concerned about their retirement plans than they have been in two decades.

Several issues are to blame for this increased retirement worry: many lost their money in retirement plans, real estate or personal investments, while others blame the poor economy in general. As a result, more adults in this age group have been forced to delay retirement to build their nest egg. 

If you aren't sure about how social security will affect your circumstances, contact us to discuss your concerns with a Raleigh personal injury lawyer.