Many American workers are still feeling the effects of the Great Recession. And that could have a big impact on how well they live in retirement.
In a new survey of workers from the Transamerica Center for Retirement Studies, 56 percent of respondents said they have not fully recovered.
Of those respondents, 37 percent said they have somewhat recovered, 12 percent said they have not begun to recover and 7 percent said they may never recover.
“So many individuals and families were hit so hard during the recession — either losing their jobs, their house or pay cuts,” said Catherine Collinson, president and CEO of the Transamerica Institute and Transamerica Center for Retirement Studies. “And if it didn’t happen to an individual, chances are it happened to a loved one.”