Retirement Planning Anxiety Grows Among Younger Generations

Shift to defined-contribution plans and uncertainty about Social Security and Medicare fuel concerns.

Millennials and Gen Z face growing anxiety over retirement, fearing they won't have enough savings to maintain their standard of living.
A shift from defined-benefit plans like pensions to defined-contribution plans such as 401(k)s has increased financial uncertainty for future retirees.
Social Security and Medicare's future is uncertain, adding to the anxiety over retirement planning.
Experts advise focusing on savings and investment, and considering the role of government programs like Social Security and Medicare in retirement planning.
A Reddit thread on retirement savings reveals a wide range of financial situations, emphasizing the importance of starting early and tailoring plans to individual goals.