Retirees with written plans reported savings worth 5.92 times income versus 4.68 times, while 83% of workers with plans felt on track, against 41% without.
The survey said rising housing, healthcare, childcare, education and debt costs are diverting retirement saving, with more than 75% of Millennials and over 70% of Gen Z reporting material strain.
Goldman said retirees typically replace about 60% of pre-retirement income, and modelling suggested adding protected lifetime income products could lift retirement income by about 23% over portfolio withdrawals alone.
As living costs outpace wages, can personal financial grit truly overcome systemic economic pressures for today's retirement savers?
Annuities are promoted to boost retirement income. What are the key risks and hidden costs that savers should know before investing?
With financial anxiety seen as a trauma response, can traditional planning succeed without addressing these deep psychological roots first?
Goldman Sachs 2025 Survey: Escalating Costs and the Financial Vortex Undermining U.S. Retirement Readiness
Overview
The Goldman Sachs 2025 analysis reveals that Americans face increasing difficulty saving for retirement due to sharply rising essential living expenses over the past 25 years. Healthcare costs, including premiums and out-of-pocket expenses, have surged, putting extra strain on household budgets. This financial pressure, combined with higher housing, childcare, and education costs, makes achieving retirement security a growing challenge. As a result, many individuals struggle to set aside enough for the future, highlighting the urgent need for effective financial planning and innovative strategies to help close the retirement savings gap.