The percentage of Americans at risk of having to cope with lower living standards in retirement has risen to 51%, seven percentage points higher than the 44% last measured in 2007, the
Among low-income households, the percentage at risk is 60%, among middle-income it is 47%, and for high-income it is 42%.
And
“We are clearly facing a retirement crisis, one that will continue to grow as younger workers age,” said center Director Alicia H. Munnell. Both the center and Nationwide are calling on investors and their advisers to proactively prepare for retirement, particularly for advisers to empathize with their clients’ frustration and cynicism. Specifically, the organizations recommend that people save and invest more, reduce debt and work longer.