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Goldman Sachs Survey: 50+% of individuals nearing retirement are behind on savings

Employers 11.28.2022 5 MIN

As your employees navigate their journey toward retirement, a complex backdrop of rising interest rates, high inflation and market volatility is creating a challenging environment. This year’s Retirement Survey & Insights Report from Goldman Sachs Asset Management provides unique insights for employers into how these factors are impacting workers and retirees—and the type of support they’re looking for to keep their retirement on track.

Key Takeaways

While every generation has different concerns and attitudes toward saving and receiving guidance, working respondents are on a path to retirement unpreparedness, according to the survey.

At a high level, the survey found:

  • More than 40% of working respondents believe their savings are behind schedule, including 53% of working boomers and 51% of Generation X.
  • About 50% of workers are concerned about not having enough retirement savings and the impact of inflation on their retirement.
  • 58% of workers report feeling stressed about managing their retirement saving, including 65% of Generation X.
  • Nearly 30% of Generation X and Z and nearly 25% of millennials plan to retire before age 55.
  • 56% of retirees left the workforce earlier than planned.
  • More than 60% of workers reported their ability to save for retirement was impacted by student loans, caring for a family member, financial hardship and having too many monthly expenses.
  • Nearly all working respondents (95%) believe financial help is important to prepare for retirement.
  • Financial advisors are viewed as the most important source of education and advice.


The Retirement Survey & Insights Report 2022 provides a deeper dive into these findings, including more information about how you can help your employees prepare for retirement.

By acting as an extension of your HR team, Goldman Sachs Ayco can help your employees see the importance of understanding and maximizing the retirement benefits your company offers. We provide employees at all levels with the financial education and planning they need to navigate today’s complexities. We help create a more engaged, less stressed workforce and work to improve retention.

Interested in learning how we can partner to meet your organizational goals and help your employees maximize the value of their benefits and compensation? Contact us to learn more.

Read the report