Americans Struggle to Save for Retirement Amid Rising Cost of Living
TL;DR
A Goldman Sachs study reveals that more Americans are living paycheck to paycheck, with 42% of younger workers having no savings after expenses, making retirement savings increasingly difficult due to rising costs of essentials like housing and healthcare. The shift from pensions to 401(k)s has placed more responsibility on individuals, many of whom feel unprepared for retirement, highlighting the need for new strategies and policy changes to address the growing financial insecurity.
Topics:businesseconomy#401k#american-workers#economy#financial-pressures#paycheck-to-paycheck#retirement-savings
- More Americans are living paycheck to paycheck, putting retirement out of reach, report finds CBS News
- The US faces a deepening cost-of-living crisis that is unlikely to ease anytime soon eMarketer
- Views from the nation’s press Longmont Times-Call
- The reality of barely making ends meet The Temple News
- Gens Z and X, Millennials, Struggle to Save for Retirement Due to Competing Priorities plansponsor
Want the full story? Read the original reporting
Read on CBS News