Americans Are Saving More and Feeling Better About Retirement: Report
By:
Mary Ellen Cagnassola
Mary Ellen Cagnassola
Reporter | Joined May 2024
Has also written:
See full bio
- Why Some Social Security Recipients Will Get 2 Payments in May
- When Social Security Recipients Will Get Their Checks in May
- Why Keeping Your 401(k) After Retiring Could Be a Smart Savings Decision
- Most Adults Fail This 5-Question Quiz on Retirement Basics
- Most Older Investors Say Retiring at Age 65 Is No Longer Feasible
Editor:
Julia Glum
Julia Glum
News Editor | Joined February 2018
Has also written:
See full bio
- Social Security COLA: Projected 2025 Payments Tick up on Latest Inflation Data
- Thousands of Social Security Recipients Will Soon Qualify for Bigger Payments
- Why Striking Workers Are Pushing to Get Pensions Back
- 3 Moves to Make if You're Retiring in 2023
- Retirees Can Now Wait an Extra Year Before They Have to Withdraw From Their 401(k)s
Money; Getty Images
A new report has some good news about Americans' retirement prospects, finding that in 2023 more U.S. workers have not only increased their savings but also their confidence in meeting their goals.
Goldman Sachs’ annual retirement report, released Tuesday, found that more than half of workers added to their retirement savings this year, much higher than the 36% reported in 2022. Sixty-one percent of workers said their current savings are on track or better, compared to 54% last year.
And fewer working respondents reported feeling financial stress concerning their retirement savings. Just 46% said they were worried about retirement, down from 58% in 2022.
What is the 'financial vortex' impacting retirement?
