A shift from pensions to 401(k) plans has made workers responsible for ensuring they have enough money to live on in retirement. Most Americans — 79% — now agree there is a retirement crisis, up from 67% in 2020, according to a new report from the National Institute on Retirement Security. Meanwhile, more than half of Americans — 55% — are worried they won't be able to achieve financial security in retirement. Younger investors have a unique opportunity to avoid that dilemma, according to experts who testified at a Senate hearing last week. "Starting earlier obviously makes the math work much better," Dan Doonan, executive director at the National Institute on Retirement Security, said during the Senate hearing.

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Persons: Albert Einstein, Dan Doonan Organizations: National Institute on Retirement Security, Finance, Security, Investors, National Institute on Retirement