Survey: North Dakotans don’t start worrying about retirement until age 33

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A new survey by online lender CreditNinja.com suggests, when it comes to thoughts about retirement planning and preparation, North Dakotans don’t really worry about it until age 33.

That’s 8 years later than the average age of 25 for all Americans.

But if you think North Dakotans are procrastinators when it comes to retirement thinking, consider Arkansas: Residents there don’t give a thought to their “Golden Years” until age 42, according to the survey.

Planning for retirement can be stressful, especially when wondering whether you’ll have enough to live a comfortable lifestyle on pensions, investments and savings.

And then there’s the impact of the COVID-19 pandemic that pretty much threw some retirement plans out the window.

According to the poll, 1 in 3 people (32%) believes, following the pandemic, they now won’t be able to retire at the original age they intended. 

Further, more than half of respondents (52%) say it’s likely they will not be able to fully financially retire once they’re older and may have to keep doing some kind of part-time work.

About a third (36%) of those aged 55 and older who had hoped to move when they retire say the pandemic has quashed any plans of relocating and resettling to a different city after retirement.

You can read the complete survey and its methodology here.

You can also access a detailed retirement calculator to help you start planning for what you will need, financially, when you retire, and calculate roughly at what age you can retire.

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