Retirement Phobia

Sixty-one percent of 1,031 US-based workers said they fear retirement more than death, according to LiveCareer's Retirement Sentiments Report, usually due to anxiety about financial preparedness and starting a new life phase. Thirty-nine percent of respondents said they worry about being a financial burden to their loved ones, and the same amount dread not having enough money for medical emergencies or other unexpected costs.

"These findings highlight the importance of retirement planning," explains LiveCareer career expert Jasmine Escalera in a press release. "Workers should take proactive steps to understand their employers' retirement and financial planning services fully. This includes knowing the difference between 401(k) and Roth accounts, understanding company match programs, and taking advantage of free financial advice and planning benefits. By doing so, workers can better prepare for retirement's financial and personal impacts before it gets too late."

LiveCareer's research discovered that the second-biggest retirement-related concern is making poor investment decisions and losing retirement funds. Eighty-six percent of respondents need between $100,000 and $750,000 to retire comfortably, but 54 percent have saved $100,000 or less.

Because four in five retirement-age workers have trouble getting the education they need to feel comfortable retiring, employers can help by teaching workers in personal arenas such as fiscal responsibility, financial preparedness, and retirement.