When analyzing our latest survey of US retirement saving habits, we were not surprised that a particular group reported more significant retirement challenges than most: caregivers. While they remain generally confident, the challenges of caregivers can be vastly different.

The Goldman Sachs Asset Management Retirement Survey & Insights Report 2023: Diving Deeper into the Financial Vortex incorporates the views of 5,261 working and retired Americans to identify financial obstacles individuals must overcome on their retirement saving journeys and lessons retirement plan designers can apply to help better prepare employees for retirement.

Defined as those who stop working – temporarily or permanently – to address the caregiving needs of children, elderly parents or other family members, caregivers can be especially vulnerable to shocks from the financial vortex of life's competing responsibilities, which are often unplanned or unforeseen.