This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

E. Thomas Foster Jr., Vice President And National Spokesperson For The Hartford's Retirement Plans Group. (Photo: Business Wire)

Once upon a time, retirement was referred to as the “Golden Years.” Today, with the world economy struggling to emerge from recession and equity markets limping along, the promise of retirement as a time of relative comfort, leisure and prosperity has evaporated in the eyes of many Americans near retirement age.
E. Thomas Foster Jr., vice president and national spokesperson for The Hartford's Retirement Plans G ...

E. Thomas Foster Jr., vice president and national spokesperson for The Hartford's Retirement Plans Group. (Photo: Business Wire)

Research from The Hartford Financial Services Group, Inc. (NYSE: HIG) has found that many older Americans who are approaching or who have passed the traditional retirement age of 65 are decidedly pessimistic about their short- and long-term financial future, especially as it relates to their wherewithal to retire.

“The economic turmoil of the past few years has taken a major toll on the retirement dreams of those age 60 and older, especially those in their 60s,” said E. Thomas Foster Jr., vice president and national spokesperson for The Hartford’s Retirement Plans Group. “The financial services industry – financial advisors in particular – need to reach out to their mature clients to help them get back on track.”

According to The Hartford’s study, many of today’s pre-retirees say they have “no idea” as to when they can retire (28.3 percent for ages 60-69 and 33.3 percent for age 70 and older) and a significant percentage (36 percent) of those ages 60-69 believe they will have to postpone retirement for up to two years or more.

With nearly nine in 10 people in their 60s expressing concerns about having enough money in retirement, more than half (55.4 percent) plan to work longer and put off retirement or work part time during retirement. Nearly half of those age 70 and older (44.4 percent) said the same. A significant percentage (17.4 percent for ages 60-69; 33.3 percent for age 70 and older) of survey respondents say they never plan to retire.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs