Which age group is most pessimistic about retirement?

It’s not difficult to find doom and gloom retirement projections and online retirement advice, but a new study from the Pew Research Center which found the age group most pessimistic about their retirements is not Baby Boomers, but those in their late 30s.

As reported by the Associated Press newswire, while about 40 per cent of all American adults say they worry about retirement, almost half of those between the ages of 35 and 44 express concern. And perhaps the most worrying statistic is that three years ago, in 2009, only about one-fifth of this age group said they were concerned about retirement.

If you think that’s surprising, you’re not alone; even the authors of the study appeared surprised.

“I think most people would expect those on the cusp of retirement — ages 55 to 64 — would be the most concerned about financing their retirement, (so) the finding that the peak is now occurring among adults roughly 20 years younger is notable,” co-author Richard Morin told the newswire.

One of the major factors related to the pessimism of those in their 30s and 40s is their disproportionate financial loss in the recent recession, where they lost more than 10% more money – through decreased home values and stock declines – than the amount of money lost by Baby Boomers.