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2,492 people participated in the 2013 Own Your Future survey.
21 percent were age 44 or under.
22 percent were between the ages of 45 and 54.
34 percent were between the ages of 55 and 64.
And 23 percent were age 65 or older.
For the question "What is your biggest concern about retirement?,"
43 percent answered losing my health and needing care,
27 percent answered unable to maintain my previous lifestyle,
19 percent answered unable to save for retirement,
and 11 percent answered being a burden to my family.
Of those who answered unable to save for retirement,
34 percent have an annual income of $20,000 or less.
For the question "What will be your main source of income in retirement?,"
29 percent answered Social Security,
25 percent answered 401K or similar,
18 percent answered employment-paid pension plan,
18 percent said they didn't know and 4 percent answered employment.
For the question "If you need long-term care due to a physical or mental disability, how
will you pay for it?,"
32 percent said they didn't know,
20 percent answered that they have long-term care insurance,
20 percent answered use personal savings,
11 percent answered use government programs,
9 percent answered that they will buy long-term care insurance,
4 percent answered that their family would take care of them,
and 4 percent answered use the equity in their home.
35 percent of women and 29 percent men said they didn't know how they will pay for long-term
care due to a physical or mental disability.
For the question "Do you provide ongoing care for a ill or disabled family member?,"
15 percent answered that they are currently providing care,
69 percent answered that they are not and 16 percent answered that they have provided
care in the past.
For more information visit us at http://mn.gov/OwnYourFuture.