Retirement Survey & Insights Report 2023

All investing involves risk, including loss of principal.

There is no guarantee that objectives will be met.

The survey was conducted by Goldman Sachs Asset Management and Qualtrics Experience Management between June 16, 2023–July 8, 2023. Views expressed discussed are those of survey respondents. This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities.

Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security. Views and opinions are current as of the date of this document and may be subject to change, they should not be construed as investment advice.

Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. We have relied upon and assumed without independent verification, the accuracy and completeness of all information available from public sources.

THESE MATERIALS ARE PROVIDED SOLELY ON THE BASIS THAT THEY WILL NOT CONSTITUTE INVESTMENT ADVICE AND WILL NOT FORM A PRIMARY BASIS FOR ANY PERSON’S OR PLAN’S INVESTMENT DECISIONS, AND GOLDMAN SACHS IS NOT A FIDUCIARY WITH RESPECT TO ANY PERSON OR PLAN BY REASON OF PROVIDING THE MATERIAL OR CONTENT HEREIN. PLAN FIDUCIARIES SHOULD CONSIDER THEIR OWN CIRCUMSTANCES IN ASSESSING ANY POTENTIAL INVESTMENT COURSE OF ACTION.

This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. This material has been prepared by Goldman Sachs Asset Management and is not financial research nor a product of Goldman Sachs Global Investment Research (GIR). It was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. The views and opinions expressed may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates.

There are minor changes in the 2023 sample compared to 2022. The total sample size increased to 5,261 in 2023 from 1,566 in 2022, and now includes not-for-profit organizations that were not included in the previous wave. This year we also asked a new question about net investable assets, which we used to establish soft quotas to ensure enough representation and enable us to analyze the data across different wealth tiers. We believe broad trends for the overall sample can be compared year-over-year despite these minor sample changes. Survey participants were asked to select responses based on what has extremely, very, moderately, slightly or no impact on their ability to save for retirement. We are reporting extremely, very and moderate responses.

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