Catherine Collinson on retirement security

Interview extract

Q: Transamerica Institute has been studying retirement security for decades. When you compare today's findings with what you were seeing in the late 1990s, what feels most different, and what has remained the same?

A: We've seen a tremendous amount of change over the years. The survey began before the turn of the millennium, and since then we've lived through the dot-com boom and bust, 9/11, the Great Recession, the pandemic and countless economic and technological changes. What stands out today is the pace of change. People are contending with the high cost of living, rapid technological innovation, workforce transformation and population aging. Everything feels like it's moving faster.

What's remained remarkably consistent is people's outlook on retirement. Throughout decades of economic and social change, retirement has remained an important goal. Even amid financial pressures, people continue to save and plan for retirement. Retirement is still very much part of the American dream.

Q: The report paints a complex picture of the middle class. Many people report being happy and enjoying life while also experiencing burnout and financial strain. How do you explain that tension?

A: Those findings may seem contradictory, but they aren't. More than eight in 10 people report positive indicators such as happiness, enjoyment of life and strong relationships. At the same time, many are experiencing signs of strain, including burnout and difficulty making ends meet.

What it suggests is that people can be doing well in the areas of life that matter most to them while still facing financial pressures. Strong relationships, happiness and enjoyment of life don't necessarily disappear because someone is feeling financially stretched.
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Want to learn more about the report’s findings and Catherine Collinson’s perspective on the future of retirement security? 

Read the full interview on Transamerica.com

* Transamerica Center for Retirement Studies (TCRS) is a division of Transamerica Institute, a nonprofit, private operating foundation. TCRS conducts one of the largest and longest-running annual retirement surveys of its kind.