Fewer workers and retirees are confident they have enough money to live comfortably in retirement, according to the 36th Annual Retirement Confidence Survey published by the Employee Benefit Research Institute (EBRI) and Greenwald Research.
By the numbers: Sixty-four percent of Americans say they feel confident about their retirement outlook—down from last year—reflecting mounting pressure from inflation, debt, health care expenses, and housing costs.
- Among workers, confidence dropped to 61 percent, while retirees reported a decline to 73 percent.
Go deeper: A major source of anxiety is the future of Social Security and Medicare. Eighty percent of workers and 70 percent of retirees worry about potential changes to the retirement system, and only about half of workers believe these programs will continue to provide the same level of benefits in the future.
Debt remains a significant hurdle—65 percent of workers say it’s a problem, and many carry substantial credit card or non-mortgage balances that limit their ability to save.
