Retirement Crisis Deepens as Trump Proposes Government-Backed 401(k) Rescue

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Ian CooperThu, February 26, 2026 at 4:09 PM GMT+1 6 min readTrump proposed a government-backed 401(k) with up to $1,000 annual matches for 56 million workers lacking employer benefits.57% of Americans say they are behind on retirement savings while only 15% feel ahead.Fidelity benchmarks recommend 1x salary saved by 30, 3x by 40, 6x by 50, and 10x by 67.The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE.Earlier this week, President Trump called for the creation of a government-backed 401(k) program for folks who don’t receive employer matches.At the moment, that includes about 56 million people, according to Newsweek.To help, Trump said, “My administration will give these oft-forgotten American workers, great people, the people that built our country, access to the same type of retirement plan offered to every federal worker.  We will match your contribution with up to $1,000 each year.”That could certainly help those who qualify.About 57% of Americans say they’re behind on their retirement savings, as noted by Bankrate’s Retirement Savings Survey. About 35% say they’re significantly behind.“Only 15 percent of workers feel ahead of where they should be, including 9 percent who feel slightly ahead and 6 percent who feel significantly ahead. Another 22 percent feel they’re right on track with retirement savings,” they added.But that doesn’t have to be your experience.As most of you know, saving for retirement is important.Ideally, you want to start as early as possible. Even just a small amount invested in your 20s can add up to a substantial amount of money by the time you reach your 60s. Even if you got a late start on saving, it’s never too late to start putting away money for your retirement.Here are just a few ways to ensure you can retire.If you can, set aside 10% of your salary into a “don’t touch” retirement account.According to Fidelity, by the age of 30, have at least a year’s worth of salary saved. So, if you earn $80,000 by the age of 30, you should have at least $80,000 saved. By 40, have three times your salary saved. By 50, six times, by 60, eight times. By the age of 67, if you’re thinking of finally retiring, have at least 10 times your salary saved. An IRA allows you to save for retirement with tax-free growth or on a tax-deferred basis.You can invest in a traditional IRA, for example. While it’s best to check with your financial advisor, many times you can deduct contributions on your tax return. Plus, earnings can potentially grow tax-deferred until you withdraw funds in retirement. Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,878.88 -29.98 (-0.43%)Dow 3048,977.92 -521.28 (-1.05%)Nasdaq22,668.21 -210.17 (-0.92%)Russell 20002,632.36 -44.93 (-1.68%)VIX19.86 +1.23 (+6.60%)Gold5,296.40 +102.20 (+1.97%)Trending tickersBTC-USD Bitcoin USD 65,468.66 -1,949.16 (-2.89%)NFLX Netflix, Inc. 96.24 +11.63 (+13.75%)ANTH.PVT Anthropic 259.14 0.00 (0.00%)NBIS Nebius Group N.V. 91.19 -13.69 (-13.05%)WFC Wells Fargo & Company 81.45 -4.85 (-5.62%)PortfolioSign in to access your portfolioSign inTop gainersAAOI Applied Optoelectronics, Inc. 84.23 +30.54 (+56.88%)BWIN The Baldwin Insurance Group, Inc. 23.23 +4.74 (+25.64%)FIGS FIGS, Inc. 15.45 +2.98 (+23.90%)DELL Dell Technologies Inc. 148.08 +26.63 (+21.93%)PSKY Paramount Skydance Corporation 13.51 +2.33 (+20.84%)Top losersRUN Sunrun Inc. 13.25 -7.17 (-35.11%)FIGR Figure Technology Solutions, Inc. 25.28 -8.76 (-25.73%)CRWV CoreWeave, Inc. 79.56 -18.07 (-18.51%)ACA Arcosa, Inc. 107.48 -20.02 (-15.70%)TPC Tutor Perini Corporation 75.37 -14.01 (-15.67%)Most activeNVDA NVIDIA Corporation 177.19 -7.70 (-4.16%)NFLX Netflix, Inc. 96.24 +11.63 (+13.75%)SOFI SoFi Technologies, Inc. 17.76 -1.34 (-7.02%)PLUG Plug Power Inc. 1.7900 -0.1200 (-6.28%)NU Nu Holdings Ltd. 14.98 -0.08 (-0.53%)Top economic eventsEarnings eventsMy earnings eventsEarnings events