The Middle Class Is Missing Out On Retirement Savings
Saving for retirement is one of the biggest financial challenges most working families will face. People are living longer, which means more years of retirement to pay for. Costs for healthcare and long-term care remain high. Meanwhile, incomes are being squeezed by higher inflation and rising costs for housing, college, and other major life expenses. These burdens fall particularly hard on the middle class, which is not well-served by many of our retirement savings structures in the United States.
80% of Americans Say U.S. Faces Retirement Crisis Amid Affordability Pressures and Debt
New national research from the National Institute on Retirement Security finds that 80 percent of Americans believe the nation faces a retirement crisis, as rising costs, debt, and other affordability pressures make it harder to save. The survey also finds widespread caution about AI-generated financial advice and cryptocurrency in workplace retirement plans, while 85 percent say Washington should make retirement security a higher national priority.