BROKEN ARROW, Okla. — A recent AARP study shows just over a third of Americans aged 50 and above feel financially insecure, and 60% worry they haven't saved enough money to last through retirement. But experts say money is only part of the picture.
Amy Spriggs is a busy mom in Broken Arrow juggling two young kids while also planning for the future .
"We've been planning for their college recently and also for retirement, making sure that we're set up for all of those things that will happen sooner than it really feels like they will," Spriggs said.
She told 2 News one event has her generation focused on how to prepare for the future and whether they will outlive their money.
"We have thought about that, especially with, you know, the inflation that happened after 2020. So I think it really opened a lot of our eyes and a lot of people our age because you know we were all in these houses with low interest rates and then everything doubled and everything, all our groceries and gas and you know it was just a lot more expensive than they were when we first started our young married lives and so that did make us question, hey, how much do we really need? Are we saving enough for that? Because if that can happen in just a couple of years, what will happen in 40 years?" Spriggs said.
Aging expert Marcus Riley, director of the Booming Agency, says planning earlier is key — and that planning should extend well beyond finances.
"Planning really maximizes our control, so it's so important for us," Riley said.
Riley warns against planning in isolation, like just focusing on retirement savings. He notes that finances are only one element of life at all stages — particularly in later years.
"I think there's this perception that aging is just a linear journey of, of decline, and we know that's not the case" he said. "Yes, finances are absolutely vital, but they're only one element of our life at all stages, particularly our, our later stages of aging, and we need to be better incorporating and considering things like our health, where we want to be living, our, our social connections, and really importantly, our sense of purpose and what's going to fuel that sense of purpose as we move through different, different stages," Riley said.
"So, it's really valuable, as I said, to be looking at that as early as possible," Riley said.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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