Number of Americans Living Paycheck to Paycheck Soars
Summary
A recent study by Goldman Sachs shows that about 40% of Americans live paycheck to paycheck, limiting their ability to save for retirement. The study predicts that this number will rise, with more people expected to struggle financially in the coming decades.Key Facts
- Goldman Sachs' report is called the 2025 Retirement Survey & Insights Report.
- 40% of Americans currently have no extra savings and live paycheck to paycheck, up from 31% in 1997.
- By 2033, 55% of Americans are predicted to face similar financial struggles.
- Inflation and competing financial priorities are major reasons for the limited ability to save for retirement.
- Younger workers often pause retirement contributions due to financial pressures.
- 70% of working Americans feel stressed about managing retirement savings.
- Basic living costs have increased significantly since 2000, outpacing wage growth.
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