The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Americans are feeling uncertain about their retirement prospects in the current turbulent economy. With the Social Security Trust Fund projected to run out of money by 2034, many are worried when they’ll be able to retire… if at all.
Despite the fluctuating economy, a new report found 80% of Americans are still saving for retirement, but many don’t think it will be enough. More than 1 in 5 Americans say they don’t think they’ll ever be able to retire. Plus, 78% wish they started saving for retirement earlier.
The pandemic made things even more difficult for many Americans. Nearly 2 in 3 (65%) say they’ve struggled to save since the pandemic, and nearly 1 in 4 (23%) are planning to switch industries for better retirement options.
If you’re not sure how you’re doing when it comes to planning for retirement, take a look at the full report where you can find a retirement calculator to see if you’re on track – along with additional insights.
