By Remy Samuels
Source: Plan Sponsor
Across all generations of savers surveyed in BlackRock’s 2024 “Read on Retirement” survey, employees expressed confusion about how much to save for retirement, worries about outliving their savings and uncertainty about how much income they will need in retirement.
Generation Z employees expressed the highest level of retirement confidence out of any generation, with 77% saying they feel on track to retire with the lifestyle they want. However, 69% of this cohort said they worry about outliving their retirement savings.
For the third year of BlackRock’s survey, more than 60% of all respondents expressed fear of outliving their savings. Employers expressed similar concerns, as only 58% said they believe participants are on track with their retirement savings, down from 64% in 2023.