Over 70% of Americans Worry Their Retirement Savings Will Get Eaten up by Taxes
By:
Mary Ellen Cagnassola
Mary Ellen Cagnassola
Reporter | Joined May 2024
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Editor:
Julia Glum
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A majority of Americans are concerned about taxes siphoning money out of their retirement accounts, according to new research.
A third-quarter market perceptions study from insurance company Allianz Life found that more than 70% of roughly 1,000 U.S. adults surveyed in August said they're worried that taxes will go up in the future and affect accounts like 401(k)s. The data also showed they have little faith in the reliability of tax-advantaged income from Social Security.
What the data says
