58% of Americans expect to outlive their savings due to rising costs
A recent survey reveals that 58% of Americans fear they will outlive their savings. This is due to structural cost pressures, including rising housing, childcare, college, and healthcare costs.
The cost of housing has risen from 21% to 36% of income, while childcare costs have increased from 10% to 25% and college costs from 8-9% to 16-33% since 2000.
A blended income strategy can increase retirement income by 23%, while personalized planning and consistent saving behavior can boost retirement savings by 27% and 49%, respectively.