From baby boomers to Gen Z, these 6 stats show Americans of all ages are rethinking retirement — are your plans shifting?

Read on to find out how each generation is thinking about retirement and to see how many of BlackRock’s findings apply to you.

Gen Z is confused

Gen Z may be the youngest generation in the workforce, but they’re seasoned vets when it comes to retirement worry. Roughly 63% of Gen Z workers admit they don’t understand enough about investments to confidently manage their own savings. It’s an important gap, as early investment decisions can have a profound impact on long-term wealth accumulation.

As your wealth grows, you may need help making the most of it. Or you might want access to different choices. When you get to this point, it makes sense to get an advisor to help you navigate what's available.

WiserAdvisor is retirement-focused online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The icing on the cake is that you don’t need to pay a fee to find one.

Just answer a few quick questions about yourself and your finances and the platform will match you with experienced financial professionals. You can read past client reviews and schedule an free consultation with no obligation to hire.

Millennials would stay with employers offering 401(k) match for student loans

Millennials are juggling the dual pressures of managing near-term expenses and saving for the future. With millennial student loan borrowers reportedly carrying an average of around $40,000 in student loan debt, retirement often takes a backseat. BlackRock found that the majority (72%) of millennials would stay with their current employer if their 401(k) plan matched student loan payments.

Many companies offer help when it comes to helping workers pay down student loan debt. By offering student loan repayment matching programs, employers can improve employee loyalty by helping millennials manage their debt while simultaneously building their retirement savings.

Gen X is worried about Social Security

Gen X is both the most likely generation to report saving consistently for retirement and the least likely to feel on track. As retirement approaches, nearly 75% of Gen Xers believe they won’t have the same level of certainty about having enough in retirement savings as previous generations. This is possibly fueled by uncertainties around the sustainability of Social Security, the decline of traditional pension plans, and insufficient personal savings.

Instead of being made up of stocks and bonds, a gold IRA allows you to directly invest in precious metals and merges the tax advantages of a traditional retirement account with gold’s capacity to hedge against inflation and market volatility. So, if Social Security can’t put you at ease, a gold IRA can help you stabilize your finances and protect your retirement fund.

A gold IRA combines the tax advantages of an IRA with the inflation-resistant properties of gold. American Hartford Gold is a leading dealer of precious metals, and offers IRAs and direct purchases of precious metals and coins.

Sign up now for your free 2024 information guide to find out if a gold IRA is the right move for your retirement goals.

Baby boomers seek secure income

For baby boomers, many of whom are already retired, the need for a secure income stream has new importance. According to BlackRock, 85% of retired boomers said having a guaranteed income in retirement is more crucial than they initially thought.

Due to market volatility, rising healthcare costs, and unanticipated financial pressures, many retirees are adjusting their spending and finding guaranteed income products like annuities increasingly appealing. AARP reports that annuity sales hit a record high of $385 billion in 2023, a 23% jump from the previous year, according to LIMRA, a research association serving life insurance and financial services companies.

Thankfully there’s a way you can build your savings just by spending as you normally do.

Acorns is an automated savings and investment app that makes your spare change go to work for you.

When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess into a smart investment portfolio.

For those looking to enhance their investing strategy as well, Acorns offers different tier memberships, including a Gold tier that allows you to customize your portfolio by adding individual stocks and includes a retirement account with a 3% IRA match.