"Nearly half of working-age Americans in the private sector don't have a retirement account, with 57% of Gen Zers and young millennials aged 18 to 34 lacking a plan."
"About 43% of Americans aged 34 to 44 employed by private companies do not have a retirement plan in place, as well as 41% of those 45 to 54 years old."
"The majority of Americans say they're living paycheck-to-paycheck; as housing costs, child care, and groceries gobble up a majority of workers' income."
"About 38% of professionals across all generations have withdrawn money from their retirement accounts, with nearly half of Gen Zers having already dipped into their retirement funds."
A significant number of American workers are unprepared for retirement, with nearly half of private sector employees lacking a retirement account. Younger generations, particularly Gen Z and young millennials, are the most affected, with 57% not having a plan. The issue extends to older workers, with 43% of those aged 34 to 44 and 41% of those aged 45 to 54 also without retirement savings. Many Americans are living paycheck-to-paycheck, making it difficult to save for retirement, leading to withdrawals from existing retirement funds.
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