Survey: Black New Yorkers struggling to save for retirement

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NEW YORK--Results from a recent survey conducted by AARP New York and Siena College reveal that African-American Generation Xers and Baby Boomers in New York City are unprepared for retirement.  The telephone survey of 613 African-American city residents age 36 to 70 found that 63 percent worry often about having enough money to retire—including 72 percent of middle-class Gen Xers earning $40,000 to $120,000 annually.

The survey found the cost of key necessities, including housing, utilities and food, is having a serious financial impact. Six of 10 say they’re at best just getting by. And 47 percent of middle-class Gen Xers don’t plan to live in New York at all in retirement. MORE ...