A survey of 2,000 adults conducted by U.S. News and World Report asked participants how their retirement-saving plans have been adjusted, how these plans look going forward, and how the different generations may be impacted.
Highlights:
- 50 percent of respondents said they had to pause saving for retirement at some point in 2022;
- 41 percent stopped contributing to retirement funds like 401(k)s or individual retirement accounts;
- Almost one-third (32 percent) had to withdraw money from their retirement savings to keep up with rising expenses and rethink their financial plans;
- When asked what the state of the economy will be at the end of the year, 57 percent believe it will be stronger, while 43 percent believe it will be weaker.
- Despite this division, almost two-thirds (61 percent) of participants believe that their retirement plans will improve in 2023; and
- 82 percent of survey participants said they are worried about a future recession affecting their retirement plans and savings.
