Survey: Young Workers Skeptical About Social Security
National Underwriter (Life and Health Financial Services (01/07/03)
According to a survey of 1,064 U.S. residents between the ages
of 21 and 65, low-income and younger workers are doubtful about Social
Security's future. While only 51 percent of respondents between the
ages of 35 and 49, and 29 percent of respondents over age 49 have doubts
about whether Social Security will exist when they retire, 66 percent of
respondents under age 35 think the program will cease to exist by the
time they reach retirement age. Forty-nine percent of respondents with
incomes between $50,000 and $75,000, and 56 percent of participants with
incomes under $50,000 are skeptical about the future of Social Security,
the survey finds. In addition, 70 percent of the respondents say they
support the creation of personal accounts to manage Social Security
funds.