Overview
- A new EBRI/Greenwald survey finds 64% of Americans feel confident about having enough money for retirement, with worker confidence down to 61% and retiree confidence at 73%.
- Most respondents fear policy shifts, as 70% of retirees and 80% of workers worry the government will change Social Security and Medicare, and many doubt benefits will hold their value.
- Forty percent of retirees report higher-than-expected living expenses, with health, housing and travel named as the biggest drivers.
- Workers report heavy strain from debt and health bills, as 65% call debt a problem, about half carry credit card balances, and nearly 60% say medical costs hinder saving.
- Guidance is a major gap, with more than 40% of workers and a quarter of retirees saying they do not know where to turn for financial or retirement planning advice.