The Changing Retirement Landscape

This was recently published by Betterment, after surveying over 1,000 people. Here’s a brief summary.

  • Retirement crisis: Pew Charitable Trust reported over 56 million privately-employed Americans lack access to retirement savings programs.
  • Shifting responsibility: Companies moving away from defined benefits programs, leaving individuals responsible for retirement planning.
  • Survey overview: Betterment at Work surveyed 1,000 full-time U.S. workers to understand retirement readiness, financial wellness, and benefits needs.
  • Financial wellness decline: Despite a stock market rebound, financial wellness trended downward in 2023 due to inflation and increased living costs.
  • Workplace trends: “Quiet quitting” and “rage applying” are emerging phenomena, particularly prominent among younger generations, indicating disillusionment with current work situations.

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