• Workers’ debt levels are onNE the W rS is FROM e and ar TH e E n eg EM aP tiL vO elYE y iE mp BE acti NEn FI g T t R hE ei SrE ab AR ilC it H y ItNS o sT aIv Te UfT oE r retirement. Over 4 in 5 Americans feel knowledgeable about managing their day-to -day finances. Despite the confidence in their financial kT nh oe w 2 led 02g 3 e R re ema tireim nie nn gt h C ig on h,fi w do er n kce ersS ’ u dreb vety p Fi ro nb dls em a D s e ap clp in ea e r in t o A b m e ew rio ca rs nen s’ iC non g in fi d 2e 0n 2ce 3. Si Ab gn ou ifitc H an at vli yn u gp E n th ou is g yh ea M r oney to compared with 2022, over 6 in 10 work Ler ive s r C ep om or for t tt ha ei br l y d T eb hr tou is g a h pou rot b lR em. etir e Hm ow en ev t er, consistent with last year, 34 percent of retirees report the same. • While Ame - Wor rik cer an ss an trd y t R o eti pr rep eear s R e ep foo rr r teti Hir g eme h Co n n tc , e dr ecr ns ea Abso es ut i n In rfl eti ati ro eme n an nd t acc Its o Imp unt act s h a ov ne Sc aau vin sg ed s an cod n c Sp eren n. d H in alg f o - f Ame ricans have tried to calculate how much money they will need to save to have a comfortable retirement. At least 7 i F n o r 1 0 imme work der ias te an rel dea reti se: ree 4/ s2 s7 a/y 2 t 3h ey have personally saved money for retirement. However, Americans’ retirement s Fa ov r im ngo sr h e a iv ne fotrak ma en ti o a n h : iR t o th ni s D y rea esn r.er Fo rty percent of workers and 58 percent of retirees report that their retirement d acc res on uer nt@ bal eb an ri.co es rg h ave decreased over the past 12 months. • Understanding of retirement plan investment options is lacking for some and many don’t consider their plan p (W ro as vih dier ng a to gn o,- D to .C s.o ) u –r A ce nfew or r r eti epro eme rt pu nb t lp is lan hed ni n to gd in ay fo frrma om tito hn e an 33d rd ad an vin cu e. a lM Ran etiy r eme work ner t C so fn ee fild ten hey ce u Su nd rer vey st an find d s t h a e decline i in nv tes he tment confid oen pti co e nAme s thei rir c an wo sr f kee place l in h reti avir n eme g enn otu p glh an mo off ner ey s .t o Se liv ven e c io nmf 10 o w rta ob rk ly er ts h ar roe ug ch oo nu fit d t en hei t r t h rey eti r ceme an ch no t o yea se rtsh . e The r rep igho tr itn al ves so t ment finds b oo pt ti h o w ns o f ro kr er ts h ei an rd s irteti uar ti ee on s. ar He ow ver evy er c,o ab nco er un t ed 4 i n a b 1o 0u atd imi nflt a ti th o ey n a d n o d n i't ts u in mp der act stan on d tT h ar eig ret sa D via ntg e sFu an n d d s, 3 s in p en 10d w in o g r.k ers don’t understand Managed Accounts and half do not understand ESG investment options. Many w orkers aren’t using professional sources of information and advice that can help improve their investment know- h Th oe w. R A eti lar reme ge p n o tr C tio on nfi o dfen wc oe rk Su err sv (4 ey 0 (R per CS) cen is tt) hte ur lo nn tg oes th t- ei ru r n fami ning ly s o ur r v fey rien od f s it s w k hien nd s mea eeks in ug r iin ng fo w rma orkti eo r n a n ab d o reti ut rree eti rement p co lan nfi n d in en g, c e wan hile d o isn c ly o n 2d iu nc 1 ted 0 t u bry n t t h o e tE hmp eir lw oy oee rkp B lac ene efi reti t Rres eme earn cth p Iln an sti p tu ro te vi(d Ee BrRI . ) and Greenwald Research. • Americans’ confidence in Social Security remains mostly unchanged, but worker confidence in Medicare has d “T ecl he ince od n.fi B d o en thc w e o br o kter h s w ’ o an rk d er rs eti an ree d r seti ’ co ree nfis d h en av ce e iin n t So hei ciral a b Se ili ctu yr t it o y fi rn ema ancie ns t h uei nc r h ran etig reme ed as n t w s el dr l,o as pp h ed al f s io gfn w ifio cr an ker tly s an in d 7 i 2 n 0 1 20 3 .r T eti he ree las st f ee time l ata lea decl st is n o e mew in co hn afi t d cen onc fie den of t t h th isat mag the nb iten udefi e o tc sc p urro rv ed id ed was w iin ll c 2o 0n 0ti 8n du ue rit n o g b te he at g l lea obs atl eq finu an alc iin al v c al riu sie s.t o T th he isb sen hoe w fis t s t h pa rt o v th id ee c du tro ren dat y .eco Hon w o ev mi er c, c w lima orkt er e,s ’ i n c o pn ar fiti dc en ulc ar e iin n fl M ati ed on ic,ar ise er ho as d is n ig gn tih fie can cot n ly fi d de ecr ncea e tsh ed at, A w mer ith ju ican st s h al had f w ih no f tee hei l ra r teti lea reme st son mew t prep haar t c ao tin ofi nd sen go ti n itg w in ilt lo c o th ne tin pu an e d to emi prc o,v ” is dai e d b e Cn ra eifi gt C s o th pa el tan ard e , o dfi r e ect quo al r ,v W alea ue lt th o B to en da efi y. ts Research, EBRI. • Workers are confident they know how much to withdraw from their retirement savings. However, they have d Th iff e er 2en 02t 3 e sx up rect veya o tif o 2 n,s5 o 3f 7 t Ame he ro rlie can man s w yas in c co on me duc st oed ur c o es nl iw ne ill fp ro la m y iJan n reti . 5 rteme hrou ng th c o Feb mp . ar 2,ed 20 w 23 it.h Al to l r des ay p ’s o n reti den ree tss w . D er ee spite b ag ei es ng 2 d 5o o w r n o lfd ro er m . Tlh as e t sy u ea rvr ey , n ea incrllu yd ted wo 1 -t ,h 3i2 r0 d s w o o fr w ke o rr sk an ers d ar 1,e 21 sti 7l lr eti con ree fidsen an t d th tey his k y n ea ow r ih no clw ud mu ed c an h t o ov w er it sh amp draw le f o rf o m t rh oei ug rh sla yv 9 in 4g 4s c an omp d in let ves ed t ments survey isn amo retir n eme g car neg t. R iveti ers re (5 es 9’8 c w on ofi rd ker en sc an e id n 3 th 4e 6i r r eti knr oee wls ed ). g A e rep rema orti n os n stth ea e d fiy n ,d w in it gh s a amo qua nrg ter c bar ein eg gi v ver ers y w co iln l fi bd een rel tea . W sed ork t er hiss ar su e mme morr e . likely to expect income from personal retirement savings, IRAs, work for pay, products that guarantee monthly income, and financial support from family and friends than what retirees currently r “W epo or rk ter bei s w ng o r sr o yu t rh ces at t o h fei in rc s o al me. aries In w co on nt’r tas kee t, w p o ur p k er wis t h ar ie nfl les ati so ln ik el an yd t o rep exo prect t m S oo re cid aeb l Se t,c w urh itiy le w reti ill b ree e a s s w oo urrrc ye, ab wo hu er t ea cos st o alfmo livis n tg al an l rd eti er xee pen s rsep eso ,” rt s ai it d as Li a sa so Gu rr ee ce no wfal in dc , o Cme EO,i n G r ree etin reme waldn R t.es earch. “Half of retirees report that their overall s •p W en hd en in g d i es s h cr ig ib hier ng tth han eir e as xp sect et g ed oal , an s, h in alcfr o ea f s reti e orv ee ers l as rep t o yea rt t rh ’sey on te ry -t t h o ir mai d, an nt d ai tn h e th sei har r as e s oet f r eti levrel ee s.s F w eh wo er fee thlan th e las ir t year r ai eti m rt eme o grn ot w li f tes hei ty r las e is set ws o . rAd se d th iti an on tal hley y, te w xo pect -thied rds i s o s f lr o eti wlr yee gr so rw ep in o gr.t ” their financial priority in retirement is income s tability over maintaining wealth. Workers share this sentiment as almost three-quarters say they would prioritize i K n ey co fi me nds in tab gs iiln it y t.h e 2023 RCS report include: • Americans’ confidence that they will have enough money to live comfortably throughout retirement declines. C Th oe mp 33 ar rd ed an w niu th al 2 RC 02S 2,r ep boo th rt w can ork b er e sv ’ ian ew ded reti by ree vis si’ti cn og n fi w d w en wc .eb e ir ni .h oa rg v/ in 2g 0 2 en 3- o ru cs g.h T mo he n 20 ey 2 3 to s u lir vv e ey co rmf epo or rt tab wlas y t mad hroue ghout r peti osr seme ible w nti tsh ig s n u ifi pc pan ort tl y fr o dm rop Ame pedr fir co an m Fu 73 n p der s /c C en ap t iit n al 2 G 02 ro 2u fp o,r B th an ok se ob f ei Ame ng v rier ca, y B or lack somew Rockh , C at o c lu om nfi bd ia en Th t r tea o 6 d4 n ee per dc le ent amo Inves n tg ments work,er Es mp , an od w er fro , m Fid 7 el 7i t p yer In cv en es tt t me o 7n 3t s p ,er FIc N en RA, t amo Jackn sg o n reti Na ree tios n .al T, h J. e P l.as M t o tirme gant C her has e e w& asC a od , M ecer lin ce er i, n M co un tu fial den ofc e of Ame this mag rica,n N ita uti do e n w w as id e in , N 20 ati 08 o n da ulr E in ng d o th w e ment global fo fi r n Fi an nan cial ci al cr iE sd isu . c Ea ig tih otn ee , N new per Y co en rkt Li offe, w PG ork Ier Ms , PI rep Mo CrO t ,f ee Priln in cg ip va er l Fi y nancial c Go rn ofi ud pen an td , an T. d R o w w he ile Prrieti ce.r ees’ confidence is slightly higher than workers’, still only 27 percent say they feel very c onfident. Among those who do not feel confident, 4 in 10 workers and a quarter of retirees state it is due to having l G itt ree le n to w n al o d s R aes vin ea gs r.c h In ifl sa a tilo ea n d ailn so g, h in as d ep a len arg d e en im t p res acea t o rn ch Ame firm ris cp an ec si’al cer izit n a gi n in ty r w eti itrh eme 29 n pt er , empl cent o oy f ee wo b rk eer ne sfi an ts d an 4d 2 h pea erc lten h t o car f re eti res ree ea sr s cth a ti fo nrg o tv her is i3 s5 t h yea e rr ea s. s Fo on r f m or o r te he in irf o lack rm ati ofo cn o,n v fi is dien t w cw e.w .greenwaldresearch.com. • Both workers and retirees report high concerns about inflation and its impact on their savings and spending. The T eff he ect Emp s of lo in yee fla ti Bo en n e ar fie t R hes eaea vyr o ch n I Ame nstitru ic tan e is s ’a mi no nn d- sp , r as ofi 8 t4 , ip ner dep cen en td o en f w t o an rk d er u sn an bias d 6 ed 7 p res erea cen rcth o o f rrg eti an rie zes ati o ar ne th co an t cerned p th ra ot v itd hes e i n th ce rea mo sin stg au cots h to o rfi tla iv ti iv ne g an wid ll mak objee cti itv h e ar ind fo er rma forti to hn em abt o o u s ta cv re itimo cal n is ey su . es Fo u rel r a in ti 1 n0 g w too empl rkerso an yee d 3 b en in e 1fi 0t r p eti ro rg ee rams s i ar n e th n e oU t c no itn ed fid St en at t es th.ei Fr o mo r mn oey re iw nf ilo l r b ma e ab tio le n,t o v ik see it w pw uw p .w eb itr h i. o in rfl g. a tion in retirement, which is a significant increase compared with the third of workers who felt this way last yea r. Americans’ ability to finance their expenses is in question, as 73 percent of workers and 58 percent of reti# ree s # ar e concerned they will have to make substantial cuts to their spending due to inflation.