Allianz Life Insurance Company released a June 2010 survey of 3,257 people to find out what scared people the most: running out of money in old age or death itself. Quite surprisingly, the results came back showing 61% of Americans between 44 and 75 fear depleting their assets over the inevitability of death. Nearly all respondents (92%) believe this fear of outliving our savings stems from the crisis facing the retirement system in the United States.
According to the study, those who were relying on employee pensions were less concerned about their retirement future than those whose personal savings were in the bank or wrapped up in 401K plans. Since 57% of those questioned saw a major dip in their net worth because of the recent recession, results also confirmed that some 47% of respondents have found a way to lower their daily spending and 11% have told their children to expect less financial support. If you would like further information about how you and your family can manage your assets please contact our California private fiduciaries and trustees.
It used to be that a senior discount really counted for something. Not anymore as far as the U.S. Forest Service in concerned. Starting next year, camping fees in national forests will go up for senior citizens and people with disabilities if a proposed fee increase is introduced. Seniors and people with disabilities are currently eligible for lifetime passes that qualify them for a 50% discount on camp sites in national forests.
