America’s saving goals are starting to feel like New Year’s resolutions — great in theory, tough in practice. According to Goldman Sachs, 42% of younger workers across Gen Z, millennials, and Gen X say they can’t set aside any money after covering basic expenses. And by 2033, more than half of Americans could be in the same boat thanks to rising living costs.

• Housing now consumes 51% of after-tax income, compared to 33% in 2000 — while healthcare costs have climbed from 10% to 16% over the same period.
• Nearly half of Gen X say retiring would take a “miracle,” and three-quarters of those stuck in this bind aren’t saving a dime for retirement — creating what Goldman calls a “financial vortex.”

The savings mirage: Goldman Sachs’ Greg Wilson believes “telling workers to save more” is hollow advice when stacked against reality. Basic living costs already eat up two-thirds of take-home pay, and more than a quarter of older Americans are nearing retirement with nothing saved — making that mantra feel outdated. While options like early childhood savings accounts and private market investments could help, about half of private-sector workers lack an employer plan — leaving those options out of reach for millions.