The summer is officially over and October has once again arrived. That means the air is cooler — at least here in the Northeast — pumpkin spice lattes are back on cafe menus, and Halloween decorations are popping up everywhere you look.
Those seeking a special Halloween thrill can watch their favorite scary movie or even go to a haunted house with friends or family. Another option is to review the newly published findings of Goldman Sachs’ 2025 Retirement Survey and Insights Report.
While there are some positive findings in this year’s report, the analysis paints a worrying picture of Americans’ retirement readiness. Big proportions say they are living paycheck to paycheck and are wholly unable to save for retirement. Others are putting money away for the future, but they report being just one financial emergency away from falling off track.
“The cost of major life events is taking up a larger percentage of household income, a trend that affects workers at the lowest level of income as well as the highest,” warned Greg Wilson, head of retirement at Goldman Sachs Asset Management, during a call previewing the findings.
Wilson said the old advice of simply telling people to “save more” is increasingly unfeasible in a time of stubborn inflation and low wage growth.
“The ’save more’ strategy may be sufficient for some, but we believe many others will need to more thoughtfully use investment, advice and retirement income strategies to close their savings gap,” Wilson said. “Otherwise, retirement may increasingly become unaffordable for too many workers.”
See the accompanying slideshow for 13 scary retirement statistics drawn from the new report. Brave advisors know it is only by confronting such frightening facts that they can ensure that their clients are on path toward a tranquil and sure retirement.
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