This new report from TIAA Institute sheds light on how Americans across demographic groups are making decisions about retirement, and what people’s attitudes and experiences today suggest for our nation’s financial future. The report examines big-picture decisions like when to retire and what to do in retirement, but also tactical decisions with significant implications—when to start saving, how to save and how much to save. This research informs efforts underway to address America’s retirement crisis and close equity gaps.

Key insights include:

• Two thirds of Americans are saving for retirement, but nearly one in four don’t know how much they have saved.
• Fewer than half of non-retirees are “very” or “somewhat” confident they will retire when intended. People ages 22-34 and Hispanic Americans tend to be least confident.
• 44% of households have less than $50,000 in liquid investable assets, and one in four Hispanic Americans, Black Americans and Native Americans have none.
• One in four Black Americans expect to pursue paid employment for income in retirement—that’s at least 10 percentage points higher than any other race or ethnicity.
• One in eight Americans could not come up with $2,000 to pay for an unexpected need.