"By the numbers: Nationally, about three in five adults have a retirement savings plan, with more college graduates (81 percent) likely to have a retirement plan than those with some college (58 percent) or those without a college education (39 percent), according to 2025 Gallup data. Young adults between 18 and 29 were less likely to be planning for retirement in general."
"Previous research shows that some graduates who take on large amounts of debt to attend college may be less likely to reach adequate retirement wealth. One study found that graduates in 60 percent of majors analyzed-including education, political science, journalism, biology and general business-were unable to reach $290,000 in retirement savings by age 65. For students who held $40,000 in debt, "80 percent of all majors will not reach a sufficient level of financial wealth to have a 50/50 chance of not outliving their money at retirement," according to the report."
High tuition and rising living costs strain students' present finances while many also worry about affording life after graduation. Surveys show substantial shares of students think about retirement, though a majority are not saving: 61 percent of young people report no retirement savings. College graduates are more likely to have retirement plans than those with less education, and younger adults are less likely to plan for retirement. Many students expect to support older family members during their careers. Large student debts make achieving sufficient retirement savings unlikely for graduates in many majors.
Read at Inside Higher Ed | Higher Education News, Events and Jobs
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