Study finds Americans more optimistic about retirement

Pessimism about financial security in retirement may be on the wane.

According to a study by Country Financial, 35% of Americans surveyed by phone think that it is possible for a typical middle-income family to save for a secure retirement. That’s up six percentage points from last year and the first increase in five years.

The optimism may stem partly from the fact that 36% of Americans who retired recently did not have to postpone their decision, despite the recession. Furthermore, about 57% either have maintained or increased the amount they contribute to their nest egg, up from 54%.

“A lot of Americans are realizing that the burden of retirement has to be theirs, which is why you see more saving and planning,” said Keith Brannan, vice president of financial security planning at Country Financial.

That’s not to say that all of the 3,000 Americans surveyed are feeling flush.

About a quarter of the respondents have delayed their retirement by at least three years, and 55% are prepared to work part time during retirement to help make ends meet.

Since many of those surveyed expressed uncertainty about the future of Social Security, Mr. Brannan recommends concentrating on what is controllable, such as personal savings and 401(k) contributions.