NEW YORK ( TheStreet) -- The U.S. government managed to avoid a government shutdown -- for now -- so now Americans can turn their attention from the economic dysfunction in Washington, D.C, to their own financial picture.
Many middle-class Americans seem to be losing hope over any resolution to their retirement problems. A full 37% of middle-income Americans told Wells Fargo researchers that they will "never retire," but will "work until I'm too sick or die."
Left unsaid is that there is no guarantee their employers will keep them on the payroll until they're 70, 80 or 90 years old.Nervous workers have seen this story before. The Employee Benefits Research Institute, in particular, has a thorough look at the bleak retirement picture, noting that 49% of Americans say they may not retire, or at least have limited confidence in how they can afford to retire.
- 42% of middle-class Americans say paying bill and saving for retirement is not possible ...
- ... Although13% of the same group says saving for retirement is a priority.
- 48% of Americans say they don't believe they can save for a comfortable retirement.
- 34% say they will remain in the workforce until age 80 -- up from 25% in 2001, an alarming jump in just two years.
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