News Summary

• Roughly 42% of younger working Americans report having no spare savings after covering their basic living expenses.
• The share of U.S. workers in this precarious financial position has grown significantly since 1997, when 31% lived paycheck to paycheck.
• Goldman Sachs projects that figure could climb to well over half of Americans by 2033 as essentials like housing and health care continue to rise in cost.
• Financial professionals say it's no coincidence that members of Generation X, which entered the workforce just as the shift to 401(k)s became mainstream, is feeling unprepared as they get closer to retirement.