46% of Americans Cut Retirement Saving as Housing and Healthcare Costs Climb
Updated
Updated · Bloomberg · Jul 18
46% of Americans Cut Retirement Saving as Housing and Healthcare Costs Climb
2 articles · Updated · Bloomberg · Jul 18
Summary
46% of working adults said they are deprioritizing or unable to save for retirement, according to an NFP survey released this week.
Rising housing, car-payment, healthcare and other everyday costs are crowding out long-term saving as households put immediate bills ahead of retirement planning.
That pressure aligns with another new survey from Schroders showing workers think they need $1.2 million for retirement, while half expect to save less than $500,000.
Together, the reports point to a widening gap between what Americans believe retirement will cost and what many now think they can realistically set aside.