51% Health problems/costs
47% Financial security/fear of running out of money
40% Being a burden on family
20% Loneliness or having no purpose
14% Having nothing left to leave to heirs
13% Being a victim of abuse, neglect or fraud
Overall, the most frequently cited concern was about future healthcare costs and whether health problems will affect quality of life (51%).
Fears about running out of money during retirement (47%) and being a burden on family members (40%) also came high on the list.
Being lonely later in life was a concern for 20% of respondents, and not having anything left to leave to heirs was mentioned by 14% of those surveyed.
A similar number (13% of respondents) worried about becoming a victim of abuse, neglect or fraud.
Financial Concierge Inc. can help mitigate the risks of financial abuse and fraud through assistance with day to day money management as a second set of eyes.