America’s retirement system is booming—on paper. According to the Investment Company Institute, total U.S. retirement assets hit nearly $46 trillion in mid-2025, a record high that represents over one-third of all household financial assets. But for millions of seniors, this wealth feels distant and irrelevant. Despite the headlines, many retirees say they’re struggling to pay bills, afford healthcare, and maintain their lifestyle. The disconnect between national wealth and personal security is growing—and it’s exposing deep flaws in how retirement is funded.
