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Goldman Sachs Asset Management Statement on the Russia-Ukraine War. Read it here .

   

Retirement Survey & Insights Report 2021

RETIREMENT REALITIES: TIME FOR CHANGE

Retirement is an idea embedded in the mind of every working individual whether they are 21-years-old or 60-years-old. It is a phase of life many look forward to, but many may also dread as it can bring about worries of their savings not being sufficient for life in retirement.

We developed this survey to learn about the realities of retirement from those recently retired and to better understand the current obstacles working individuals face as they prepare for their retirement today.

 

Retirement Survey & Insights Report 2021

 

The world is rapidly changing and so is retirement in America. We conducted our annual Retirement Survey & Insights Report to understand how retirement plans need to evolve to meet people’s changing needs.

Key Findings

 

Retiring Earlier Than Planned

Many individuals plan to retire at the normal social security age (age 65); however, our findings indicate that this may not be possible. 51% of retired survey participants noted they retired earlier than expected and 23% listed health reasons as the primary factor.

Goldman Sachs Asset Management, December 2021. As of December 6, 2021. For illustrative purposes only.

 

Competing Financial Responsibilities

Other financial obligations, such as student loans or debt, can impact the ability to save for retirement. This proved true for more than 75% of working participants surveyed.

Goldman Sachs Asset Management, December 2021. As of December 6, 2021. For illustrative purposes only.

 

Retirement Paycheck May Alleviate Concerns

Twenty-eight percent of retired participants said leaving a steady paycheck was their main concern when entering retirement, thus highlighting the importance of helping individuals understand how their savings will translate into future paychecks.

Goldman Sachs Asset Management, December 2021. As of December 6, 2021. For illustrative purposes only.

 

An Uncertain Future

Many individuals are concerned about future healthcare needs, potential reductions in social security, and inflation. These concerns highlight the unique reality many face in retirement today.

Goldman Sachs Asset Management, December 2021. As of December 6, 2021. For illustrative purposes only.

 

Participant Overview

In July 2021 and August 2021, our team surveyed 1,237 individuals. Participants included 613 working individuals from Generation X, Millennials, and Generation Z as well as 624 retired individuals from the Baby Boomer Generation.  

Goldman Sachs Asset Management, December 2021. As of December 6, 2021. For illustrative purposes only.

 Hear from the Team

 

Hear from Christopher Ceder, Senior Retirement Strategist at Goldman Sachs Asset Management and Jeri Savage, Head of Defined Contribution Research for Multi-Asset Solutions at Goldman Sachs Asset Management as they discuss the Retirement Survey & Insights Report 2021.

Educate & Encourage

Our report found employer retirements programs to be the most used source for retirement education. Plan sponsors can provide educational tools to help employees better navigate corporate retirement programs.

Contact us to learn more.

56% of working individuals say employer retirement programs are most used source of retirement education.

 

38% of retired individuals say employer retirement programs are most used source of retirement education.

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The views expressed herein are as of December 6, 2021 and subject to change in the future. Individual portfolio management teams for Goldman Sachs Asset Management may have views and opinions and/or make investment decisions that, in certain instances, may not always be consistent with the views and opinions expressed herein.

Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security, they should not be construed as investment advice.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO. 

Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant.

This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. These forecasts do not take into account the specific investment objectives, restrictions, tax and financial situation or other needs of any specific client. Actual data will vary and may not be reflected here. These forecasts are subject to high levels of uncertainty that may affect actual performance. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. These forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. Goldman Sachs has no obligation to provide updates or changes to these forecasts. Case studies and examples are for illustrative purposes only.

This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.

Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. These forecasts do not take into account the specific investment objectives, restrictions, tax and financial situation or other needs of any specific client. Actual data will vary and may not be reflected here. These forecasts are subject to high levels of uncertainty that may affect actual performance. Accordingly, these forecasts should be viewed as merely representative of a broad range of possible outcomes. These forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. Goldman Sachs has no obligation to provide updates or changes to these forecasts. Case studies and examples are for illustrative purposes only.

Confidentiality

No part of this material may, without Goldman Sachs Asset Management’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.

© 2021 Goldman Sachs. All rights reserved. Date of First Use: 12/08/2021.  262400-OTU-1524084

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