7 out of 10 Americans List ‘Winning Powerball at Some Point’ as Their Retirement Plan

A Powerball ticket.

Washington – A new poll by the nonprofit Center for Retirement Security finds that 7 out of 10 Americans’ only plan for retirement is an expectation that they might someday win the Powerball or Mega Millions jackpot.

“We found that a large majority of Americans are simply hoping to win one of the multi-million dollar jackpot prizes available in their state,” said Brooke Jacobi, an economist with the center. “They’re looking for that money to finance their retirement. Other than that, most have no plan, and no savings to speak of.”

Of the nearly 1,500 Americans polled, all between the ages of 35 and 55, only 12% currently have money set aside for retirement. 23% say they are planning to die prior to retirement, in order to stave off the problem altogether.

March 14th, 2014 by