More than 40 percent of investors are worried that the United States will be hit by another recession just as they are planning to retire, and an astounding 73 percent believe the U.S. is headed for a major retirement crisis in the next 20 to 30 years.
Those are the big takeaways from the latest Wells Fargo/Gallup Investor and Retirement Optimism Index, which fell 10 points in the third quarter to 33, down from 43 recorded in May.
Retired investors, according to an accompanying survey by Wells Fargo and Gallup, were less optimistic about the economy than those who haven't retired yet, but investors who are still working said they are extremely or very worried about a repeat of the stock market crash in 2008. This concern took precedence over having a lower standard of living, running out of money or having to work into retirement.
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