80% of Americans Now Say the US Faces a Retirement Crisis

Retirement security is starting to feel less like a distant goal and more like an active crisis to most Americans. A new survey from the National Institute on Retirement Security found 80 percent of adults now believe the country faces a genuine retirement crisis, up sharply from 67 percent just six years earlier in 2020. That 13-point jump reflects a country growing noticeably more anxious about whether saving enough will even be possible.

Healthcare and Inflation Top the List of What’s Making This Worse

Rising costs across nearly every category of life are squeezing out room for retirement savings specifically. Americans point to healthcare costs in retirement and inflation as the two biggest culprits, each cited by 91 percent of respondents. Long-term care costs followed at 89 percent, wages failing to keep pace with expenses at 88 percent, and rising debt at 87 percent, painting a picture of pressure coming from every direction at once.

Debt Alone Is Blocking Most People From Saving at All

Debt specifically stands out as one of the most direct obstacles blocking people from saving at all. Seventy-four percent of Americans say debt is currently a problem for them personally, and 77 percent say it actively prevents them from saving adequately for retirement. Among all obstacles named, paying down debt topped the list at 41 percent, followed by high housing costs at 39 percent.

“Much Harder” Responses Nearly Doubled Compared to 2020

The difficulty of preparing for retirement has measurably worsened compared to just a few years ago. Sixty-eight percent of Americans now say preparing for retirement is becoming harder, up from 58 percent in 2020. The share who describe it as becoming much harder specifically has grown even faster, climbing from 31 percent in 2020 to 45 percent today, a notable jump in just six years.

Americans Use AI Constantly, But Don’t Trust It With Money Advice

Artificial intelligence has become a genuinely divided topic within retirement planning specifically. Sixty-three percent of Americans have used an AI tool for something, yet 45 percent remain uncomfortable with AI playing any role in delivering financial advice. Despite that hesitation, real interest exists for narrower applications: 38 percent are interested in AI for budgeting, 34 percent for investing, and 32 percent for retirement planning specifically.

NIRS Director Says Everyday Costs Are Crowding Out Retirement Savings

NIRS Executive Director Dan Doonan connected these findings directly to the broader affordability crisis reshaping household budgets. “Americans are telling us that retirement security is becoming harder to achieve as they struggle with the affordability of everyday life,” he said. “Housing, healthcare, debt and other expenses are competing with the need to save for retirement,” he added, describing a financial landscape growing more complicated by the year.

Crypto in 401ks Draws Even More Skepticism Than AI Advice

Cryptocurrency drew even sharper skepticism than AI throughout the survey results. Seventy-seven percent of Americans consider cryptocurrency risky specifically within workplace retirement plans, including 46 percent who call it very risky. More than half, 53 percent, actively oppose employers offering cryptocurrency as an investment option at all, even as some policymakers debate expanding access to alternative investments in workplace plans.

Only 9% Could Correctly Estimate What Their Savings Would Actually Pay

Significant gaps remain in both actual retirement savings and basic understanding of how that money translates into future income. Forty-seven percent of Americans report having less than $100,000 saved for retirement, including 18 percent with no retirement savings whatsoever. More than half, 52 percent, did not start saving until age 30 or later, and just 9 percent correctly estimated how much annual income $100,000 in savings would actually generate.

Most Workers Would Choose a Pension Over a 401k If Given the Choice

Support for traditional pensions remains notably strong even as fewer employers offer them. Seventy-six percent of Americans hold favorable views of pension benefits, and 69 percent say pensions do more than 401k-style plans to help workers reach a secure retirement, up from 65 percent in 2020. Given identical job offers, 57 percent of workers said they would choose the position offering a pension over a 401k.

85% Say Washington Needs to Treat This as a Bigger Priority

Americans overwhelmingly want policymakers to treat this issue with more urgency than they currently believe exists in Washington. Eighty-four percent say Washington leaders do not understand the retirement savings challenges families actually face, while 85 percent want retirement security elevated as a national priority, up from 76 percent in 2020. Greenwald Research conducted the underlying survey of 1,203 adults between October and November 2025.