40 scary facts about retirement

The traditional path to retirement was to put away a certain amount of personal savings, build a retirement fund — often with the help of an employer.

But retirement finances have undergone a rapid evolution, accelerated by larger economic trends and the disruptions of the COVID-19 pandemic.

Medium Brush Stroke

The Great Resignation Was Actually the Great Retirement

An unprecedented number of employees have quit their jobs since the beginning of the pandemic. They were retiring.

Retirees Were Hit Hard by the Pandemic

Many people were impacted by the economic downturn caused by the pandemic, but retirees were hit especially hard.

Retirees Enter Retirement With Debt

More than three-quarters of retirees (76%) still have debt.

Credit Card Debt Is the Most Common Among Retirees

Just over two-thirds of retirees (67%) enter retirement with some credit card debt.

Nearly 1 in 10 Retirees Are Still Paying Student Loans

A quarter of Americans over 50 are still paying student loans because the student borrower failed to do so, according to AARP.