46% of American workers are skipping retirement savings to cover bills
A growing number of U.S. workers are deprioritizing or halting their retirement savings due to rising living costs, including housing, healthcare, and everyday expenses like groceries and gas. According to NFP's 2026 U.S. Retirement Trend Report, based on a survey of 1,000 working adults, nearly half (46%) are unable or unwilling to save for retirement as they focus more on immediate financial needs. This trend is leading many Americans to rely increasingly on Social Security in their later years, with over 40% of those aged 55 and older expecting it will be their primary income source. However, the Social Security trust fund is projected to run out by 2032, potentially reducing benefits to just 78% of scheduled amounts. As a result, traditional retirement plans are becoming less attainable for many. Additional surveys from Schroders and Thrivent reinforce this pattern: nearly one-third have reduced contributions or borrowed against their retirement accounts, while over half struggle to save the recommended 10–20% of income. These shifts highlight growing financial uncertainty among Americans as they face inflationary pressures and economic instability.
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Topics: consumer behavior economic pressure retirement savings Social Security