Many companies featured on Money advertise with us. Opinions are our own, but compensation and in-depth research may determine where and how companies appear. Learn more about how we make money.
Mary Ellen (M.E.) Cagnassola is a Money reporter covering all things Social Security and retirement. She strives to translate stodgy policy news and research into engaging, informative stories that help readers navigate their retirement.
Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money.
A new report has some good news about Americans' retirement prospects, finding that in 2023 more U.S. workers have not only increased their savings but also their confidence in meeting their goals.
Goldman Sachs’ annual retirement report, released Tuesday, found that more than half of workers added to their retirement savings this year, much higher than the 36% reported in 2022. Sixty-one percent of workers said their current savings are on track or better, compared to 54% last year.
And fewer working respondents reported feeling financial stress concerning their retirement savings. Just 46% said they were worried about retirement, down from 58% in 2022.
What is the 'financial vortex' impacting retirement?