About one-quarter of U.S. adults age 50 and older who are not yet retired say they expect to never retire and 70% are concerned about prices rising faster than their income, an AARP survey finds.
About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how a graying America is worrying more and more about how to make ends meet even as economists and policymakers say the U.S. economy has all but achieved a soft landing after two years of record inflation.
Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.
What we need is better mandatory contributions to 401Ks. Right now a companies are saving a lot of money compared to pensions by having such low match minimums. Companies also have to auto enroll people, but only at the minimum match level. Lots of pensions required far more commitment that was mandatory.