Why most US adults don't feel ready for retirement

A third of United States adults over 30 are worried about being able to retire and live comfortably, a new study shows. 

Among adults who are consistently saving for retirement, only 36% expect to be financially secure in retirement if they continue saving at the same rate, according to a survey released by AARP. The study measured financial security trends of adults over 30 as of January.

At the same time, 33% of respondents said they would not have enough money to live comfortably. According to AARP, this number is 4 percentage points higher than January 2023, a change in public opinion that AARP attributes primarily to adults 50 and older.

Beyond the opinions on retirement, AARP's survey also gauged both men and women's overall sense of financial security. Across the board, adults 30 and older said they feel optimistic about the future.

Retirement: You've saved up a nest-egg, but how do you spend it? Here are 6 expert tips

However, men of all ages and income groups saw a significant decline in the overall sense of financial security since January 2022. These general opinions come despite the survey showing men are more likely than women to have emergency savings and to regularly save for retirement.

AARP said these concerns exemplify the importance of planning for retirement and starting early. Here's what you can do to prepare now.

6 tips to prepare for retirement

Tom Kmak is the CEO of Fiduciary Benchmarks, a Scottsdale financial-research company focused on retirement issues. He shared these six ways to help prepare for retirement with Arizona Republic reporter Russ Wiles:

1. Delay collecting Social Security: According to Kmack, your monthly benefits will be higher the longer you wait to claim them. At a minimum, he recommends people to wait until full retirement age, 66 or 67, to claim them.
2. Start earlier: Saving at an earlier age, like in your 20s, will put you in a better position than someone who starts later in life.
3. Boost returns: Kmack recommends taking risks and building a "diversified portfolio with stocks or stock funds at the foundation," especially at a young age.
4. Save more: Although it may seem obvious, the amount of money you invest in your retirement fund makes a huge difference in the long run.
5. Raise the match: Kmack also said employees will also be able to save more if their companies offer more money in matching funds. 
6. Reduce fees: According to Kmack, modest fee reductions will not affect your plans for retirement too dramatically. However, fees must be reasonable.