Vanguard examines retirement saving behavior in the U.S. Drawing on data from nearly five million participants, the report argues that automatic enrollment, higher default contribution rates, and professionally managed portfolios have become the primary drivers of stronger retirement outcomes, even as more participants tap their savings to manage short term financial pressures.
How America Saves 25th Edition
Vanguard
Research
111 Pages
Key Takeaways
Participation rises: Retirement plan participation reached a record 86%, while 69% of participants used professionally managed portfolios, both all-time highs.
Saving improves: The average total contribution rate increased to a record 12.1%, with 45% of participants raising their savings rate during 2025.
Financial strain: A record 6% of participants made hardship withdrawals in 2025, up from 5% in 2024, despite average account balances increasing 13% year over year.
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