41% of U.S. Workers 55+ Expect Social Security to Anchor Retirement as Savings Fall Behind
Updated
Updated · Yahoo Finance · Aug 4
41% of U.S. Workers 55+ Expect Social Security to Anchor Retirement as Savings Fall Behind
3 articles · Updated · Yahoo Finance · Aug 4
Summary
More than 4 in 10 workers age 55 and older say Social Security will be their primary retirement income, according to an NFP-commissioned survey.
71% of workers report being off track on retirement savings, while 46% say they are deprioritizing retirement contributions or cannot save at all because inflation, housing, healthcare and other bills are squeezing budgets.
Social Security pays about $2,083 a month on average—just under $25,000 a year after a 2.8% 2025 COLA—leaving limited room for a comfortable retirement.
Women often receive roughly one-quarter less than men, and rising out-of-pocket medical costs can consume a significant share of those monthly checks, underscoring the gap between expectations and likely retirement income.