Overview
- Nearly half of Americans in their peak earning years report daily concern about retirement adequacy, with 47% of those ages 45–54 worrying at least once a day, according to BlackRock.
- Transamerica finds 36% of workers expect to retire at 70 or older or never retire, and 69% doubt their savings will meet needs even if they keep working.
- Working women cite outliving savings as the top fear (44%) and many are uneasy about possible Social Security reductions (43%), prompting careful claiming strategies and contingency budgets.
- Federal Reserve data show median retirement savings of about $185,000 for ages 55–64, far below common targets derived from rules of thumb like replacing 75% of income and the 4% withdrawal rule, with some guidance pointing to roughly 3.7% today.
- Current advice favors individualized withdrawals with guardrails, higher but cautious initial rates for late retirees, written spending plans that factor long‑term care and pre‑Medicare coverage, and recognition that many retirees prefer spending guaranteed income over tapping savings.