Retirement Crisis Deepens as Americans Struggle to Save Enough

With Social Security's future uncertain and savings falling short, many retirees face income gaps and plan to work longer.

Overview

The average monthly Social Security benefit in 2025 is $1,980, providing just $23,760 annually, slightly above the poverty line for a two-person household.
Social Security trust fund reserves are projected to be depleted by 2035 without legislative action, potentially reducing future benefits.
Nearly half of Americans aged 65 and older rely on Social Security for at least 50% of their income, with one in four depending on it for 90% or more.
Experts recommend saving 15% of annual income for retirement, but most workers only contribute around 9%, leaving many unprepared for retirement costs.
A growing number of workers (40%) anticipate working during retirement to supplement insufficient savings and Social Security income.