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The Largest Barrier to Retirement Saving?

A new survey suggests that Americans see poor health as the largest barrier to retirement saving.

A full three-quarters (76%) of American respondents to HSBC’s latest report, "The Future of Retirement Healthy New Beginnings," see poor health as the largest barrier to retirement saving, while 61% consider illness in a partner as a close second.

The survey — which looked at data gathered from more than 18,000 pre-retirees and retirees across 17 countries — found that 67% of pre-retirees are unable to predict how much they are likely to spend on health care in retirement, including 63% of those living in households with an annual income over $79,999.

The concern around the inability to budget future healthcare costs is a bigger concern to women (73%) than men (60%).

The survey finds that fewer than half (42%) of pre-retirees consider themselves to have good health for their age. As for healthy behaviors of pre-retirees:


  • 61% eat a healthier diet (versus 71% of retirees)

  • 59% have regular medical check-ups (compared with 84% of retirees)

  • 33% take medicines to prevent future conditions (in contrast with 66% of retirees)


What’s in the Way?

Nearly two-thirds (63%) of pre-retirees said they are prevented from living a healthy lifestyle, compared to 34% of retirees. What’s in the way for pre-retirees?


  • 30% are too busy

  • 24% cite a lack of leisure time


Even the ability to afford a healthy lifestyle affects their ability to live healthily, with affordability being a barrier for 22% of working age women and 12% of working age men.

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