RETHINKING RETIREMENT - TEXAS

Time to rethink retirement

32% of Texas voters surveyed have no retirement savings
Download the infographic PDF Download the infographic PDF

Retirement trajectory

78%
of Texas registered voters plan to retire
62
is the average expected retirement age
$2.74
million is the average expected amount of savings needed for retirement
72%
of those not planning to retire say it is because they will be unable to afford it

Top retirement concerns

  • 74% of Texas registered voters are concerned about not having enough money to take care of long-term care expenses, such as nursing home costs, throughout retirement 
  • 71% are concerned about not being able to maintain their standard of living throughout retirement
  • 71% are concerned about having inadequate savings or investments to fund needs in retirement

Retirement savings

Only 24% of Texas registered voters are extremely or very confident they will have enough money to live on throughout their retirement year

Texas retirement savings info-graph

Top demographic groups with no retirement savings

Texas top demographic groups with no retirement savings

Emergency savings

  • Only 43% of Texas registered voters have more than $10,000 readily available in savings
  • 23% do not have any readily available savings (e.g., in cash, or a checking, savings or money market account)