Retirement Readiness in AmericaKey Statistics & Insights
Understanding where Americans stand on retirement planning based on Empower's 2025 survey of 2,177 adults.
Survey conducted February 19-20, 2025 by Empower
Financial Preparedness
Feel Financially Prepared
Less than half of Americans feel ready for retirement
Feel Unprepared
More than half don't feel financially ready
Generational Readiness
How different generations feel about retirement
Baby Boomers
Feel prepared for retirement
Gen Z
Feel ready for retirement
Key Retirement Insights
Critical findings from recent retirement research that can help shape your financial future
Guaranteed Income Matters
93% of Americans want some form of guaranteed income in retirement, highlighting the importance of stable, predictable income sources beyond market-dependent investments.
Early Planning Pays Off
Workers who start saving in their 20s can accumulate significantly more wealth than those who delay, thanks to the power of compound interest over time.
Inflation Concerns
78% of Americans worry about inflation's impact on their retirement savings, making it crucial to consider inflation-protected investment strategies.
Feel on track for retirement goals
Plan to rely on Social Security
Use 401(k) or IRA accounts
Who is being left out of America's retirement savings system?
The Economic Innovation Group's latest analysis shows that millions of workers do not have access to a retirement plan at work, are not participating in a plan, or do not receive any employer matching contributions.
Use the interactive view to explore how these gaps look for full-time versus part-time workers, and across different parts of the system.
No plan at work
53.7M
Workers without access to any employer-provided retirement plan.
No employer match
62.6M
Workers who do not receive matching contributions from their employer.
Access gap by income
78.7% vs 18.2%
Share of workers without a plan in the lowest vs. highest income deciles.
Source: Economic Innovation Group, "The U.S. Retirement System: Fast Facts" (2025), using Census Bureau Survey of Income and Program Participation (SIPP) data.
Explore the gap
Who is left out of retirement savings?
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Retirement access looks very different by income
Workers in the lowest income decile are far more likely to be shut out of retirement plans than those at the top. This isn't about individual discipline—it's about how the system is designed.
Use the interactive view to compare access rates across income groups, then use our tools to build your own plan regardless of where you fall on the income spectrum.
Explore the income gap
Access to retirement plans by income level
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Visualize the impact
The power of employer matching
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62.6 million workers miss out on employer matching
According to the Economic Innovation Group, tens of millions of workers either don't have access to employer matching or aren't participating in plans that offer it.
Employer matching is often called "free money"—and for good reason. Over a 30-year career, matching contributions can add hundreds of thousands of dollars to your retirement savings.
What if you don't have a match?
Even without employer matching, you can still build substantial retirement savings through:
- Individual Retirement Accounts (IRAs)
- Consistent personal contributions
- Tax-advantaged savings strategies
- Long-term investment growth
Sources of Retirement Income
What Americans plan to rely on in retirement
Social Security
Rely on Social Security benefits
Personal Savings
Rely on 401k/IRA accounts
Passive Income
Rely on dividends/annuities
Generational Differences in Social Security Reliance
Planned Retirement Age
Plan to Retire
Between ages 60-69
Top Investment Concern
Worried About
Impact of inflation on savings
Investment Strategy Preference
Prefer a balanced, moderate-risk investment strategy
Don't Be Part of the 55%
Take control of your retirement planning today. Build your financial profile and see where you stand in just 5 minutes.
Data Sources
Empower's "Retirement Readiness Trends" is based on online survey responses from 2,177 Americans ages 18+ collected by a third-party panel provider from February 19-20, 2025.
Economic Innovation Group's "The U.S. Retirement System: Fast Facts" (2025) analyzes retirement plan access and coverage using the Census Bureau's Survey of Income and Program Participation (SIPP). For more details, see the full analysis on the EIG website.