One-Third of Americans Have Zero Retirement Savings Amid Savings Crisis

BlackRock's survey of 1,000 registered voters, conducted January 11-15, 2025, by Public Opinion Strategies, uncovers a retirement readiness crisis: 33% report zero savings, rising to 45% among Gen Z voters.[1][5] Over half, 51%, fear outliving their money more than death itself, while 56% fret daily about personal finances and just 28% believe workers have adequate saving tools.[1] The poll, with a +/-3.1% margin of error, prompted BlackRock and the Bipartisan Policy Center to launch a National Retirement Summit in Washington, D.C., on February 24, 2025.[1] Savings gaps loom large, with 63% of respondents under $150,000 saved—far short of the $2.1 million they estimate for a comfortable retirement.[2][3][6] BlackRock CEO Larry Fink warned Americans are 'vastly underprepared,' noting 62% have less than 7% of needed funds; Vanguard's 2025 report pegs average balances at $148,153, while Northwestern Mutual's study sets a $1.26 million benchmark.[3] Access issues compound the problem: 42% of full-time private-sector workers aged 18-65 lacked employer plans in 2024, affecting 40.6 million, per Census data analyzed by the Economic Innovation Group.[4] Bipartisan support surges for solutions like Trump Accounts, tax-advantaged government-backed savings seeded with $1,000 for newborns; 71% of voters approve, strongest among youth.[2][5] Overall, 80% urge Congress and the administration to prioritize retirement legislation.[1] BlackRock's 2025 Read on Retirement survey echoes woes, with only 27% feeling prepared—down from 43% in 2020—and 86% seeking guaranteed income amid shrinking emergency funds.[7] The crisis spans demographics, with gender gaps persisting and costs rising, as BlackRock pushes for industry reforms to bridge confidence divides.[7] Policymakers face mounting pressure as voters demand tools for long-term security.