8 Big Retirement Planning Gaps, Despite Rising Confidence

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The overall level of optimism about Americans’ retirement readiness has improved quickly over the last 12 months, according to a new report published by BlackRock, but the improved sentiment is not shared by all respondents.

Specifically, BlackRock’s 2024 Read on Retirement report shows more respondents feel on track for retirement (68%) than last year (56%), but a closer look at the data reveals some big confidence gaps and uncertainty around saving and spending.

As in prior surveys, women tend to express more uncertainty around key retirement topics relative to men, and there are also big differences to be measured across generations. Particularly impressive are some of the gain in confidence among younger generations with a long runway to retirement, while the perspective of Gen Xers is cause for concern.

Ultimately, respondents across generation and gender cohorts report confusion about how much to save, worries about outliving savings, and uncertainty in how much income they will need in retirement.

“Our research continues to underscore how complicated the path is for Americans when planning for retirement,” said Anne Ackerley, a senior advisor on retirement at BlackRock. “This is an important moment to rethink retirement.”

In a survey conducted by Escalent, BlackRock polled:

  • 2,616 retirement savers with at least $5,000 saved. Half had access to a workplace retirement plan; half did not
  • 301 people who have been retired at least 10 years
  • 453 plan sponsors

See the slideshow for a review of eight key findings from the new survey showing how Americans’ retirement hopes and fears have evolved.