A recent survey conducted by the Insured Retirement Institute revealed that workers are not ready for retirement. Despite having insufficient savings practices, 46% of workers are expecting to leave the workforce at age 65 or earlier. The survey found that more than half of older Americans have less than $50,000 for retirement. The vice president of research and outreach at the institute says that workers may soon get 401(k) estimates from their providers that may be a “wake-up call for a lot of folks.”
See "Workers expect retirement income that doesn’t match their savings", Kate Dore, CNBC, August 31, 2021