Commuting Sentences

If you drive to work, you’re not alone.
Actually, according to a new analysis by the U.S. Census Bureau, you probably are.
That’s right, despite rising fuel costs, commuters continued to drive their cars to work in 2005, according to the analysis of data from the American Community Survey. The survey, gathered over the course of the year, found that driving to work was the favored means of commuting of nearly nine out of 10 workers (87.7%). Most – 77% – drove to work alone.
Approximately one in 10 of us (10.7%) car pools to work, though about three-quarters of car poolers ride with just one other person.
Public Transportation
Not that public transportation didn’t enjoy a boost over 2000 levels – albeit an infinitesimally small 0.1% to just 4.7% of all commuters. And about half of those public transportation commuters can be found in 10 of the nation’s 50 cities (the ones with the most workers age 16 or over): Baltimore, Boston, Chicago, Houston, Los Angeles, New York, Philadelphia, San Francisco, Seattle, and Washington, D.C. These cities account for 2.9 million of the nation’s 6.2 million users of public transportation.
While those cities had relatively high rates of public transportation usage, Los Angeles and Houston, with rates of 10.3% and 5.1%, respectively, had lower rates than many other smaller cities, including Minneapolis (12.5%), Oakland, California (16.5%), Portland, Oregon (13.3%), and Seattle (a whopping 17%).
Pedal Mettle
By the way, Portland, Oregon, has the distinction among these large cities as having the highest percentage of bicycle commuters – approximately 3.5% of Portland’s workers pedal to work, about eight times the national average (0.4%).
Another popular option was no commute at all, since approximately 3.6% of us worked from home in 2005. Large cities with high rates of home-based workers included Austin, Texas (5%), Colorado Springs, Colorado (4.9%), Portland, Oregon (5.3%), San Francisco (6.3%), and Seattle (5.1%).
As for short commutes, Boston had the highest percentage among large cities of employees who walk to work (13%), but nationally, 2.5% of us walked to work.

Workers Underestimating Income Replacement Needs

Sixty-six percent of workers believe they need less than 80% of pre-retirement income to maintain their current lifestyle in retirement.
New data from the Principal Financial Group’s Financial Well-Being Index shows that current retirees are even less realistic, with 73% percent saying they’ll need less than 80% percent of their working income to live throughout retirement years.
Many American workers are apparently in need of financial planning for retirement financing. When asked about financial planning checkups, 41% of retirees and 40% of workers indicated they have never had one. Two-thirds of both workers (66%) and retirees (67%) indicated they have not had a financial analysis conducted on any of several financial planning areas in the past three years, including retirement savings, life insurance, and savings goals. According to the a press announcement from Principal, for the first time since 2004, half of workers (49%) listed their long-term financial future as being more important than their current job security (39%).
Health Care
Health care costs are among the largest expense for many retirees, Houston said, and retiree health care benefits are causing increasing concern for both retirees and employees. According to the survey, half of workers said their current or past employer does not offer retiree health care benefits.
Surprisingly, one-third of workers (33%) and 28% of retirees said they have no safety net in place if their employer-sponsored retiree health care benefits are eliminated. Many workers (37%) and retirees (30%) indicated they have a savings account should they lose their retiree health care benefits, but an alarming number (36% of workers and 32% of retirees) would have to dip into their retirement nest egg.
The study was conducted by Harris Interactive online among employees (aged 18-plus) of small and midsized U.S. businesses (firm size 10 – 1,000 employees). To compare responses, Harris Interactive also interviewed a group of retirees. Harris Interactive conducted The Principal Financial Well-Being Index survey of 1,137 employees and 548 retirees from May 1 through May 7, 2007, using the Harris Poll Online.

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