The typical retiree has already been retired for an average of 12 years, and expects to live another 10 to 15 years. There appears to be a disconnect between respondents' general concerns about retirement and their projections about their own situation. While long-term care is one of the major issues Americans report being concern about, respondents have not focused a great deal of attention on dealing with it. Long term care insurance is seen by half of working Americans as the most desirable option to pay for the cost of nursing care. Yet as statistics show, a relatively small proportion of Americans have bought this type of insurance.
Respondents say they have at least thought about preparing financially for long retirements.
About 65 percent have given at least some thought of whether they will spend their nest egg or try to leave a portion of it to their heirs. Conclusion Americans are worried about managing their retirement finances and keenly aware of some of the problems they may face down the road. At the same time, however, there is evidence that they are putting off finding answers to these problems. Workers appear to be in widespread denial about the implications of how some of these challenges may impede their ability to achieve a secure retirement.