Goldman Sachs’ 2025 retirement survey puts numbers around a pattern most savers sense but rarely quantify. Respondents with high Financial Grit hold 49 percent more in retirement savings than those with low Financial Grit, even when income is the same. The paychecks match. The balances do not. The difference comes from behavior that compounds quietly over decades.
Goldman describes Financial Grit as a mix of determination, perseverance, long-term orientation, optimism, and resilience. In practical terms, it shows up as three habits: contributing on schedule, reinvesting income, and staying invested when the news cycle turns negative. These habits do not rely on forecasts or perfect timing. They rely on consistency.
The Headwind Savers Face
The environment makes consistency harder, which Goldman calls the Financial Vortex, a long-running squeeze driven by rising costs of housing, healthcare, childcare, and college. These categories have grown faster than median wages since 2000. The survey shows that 67 percent of working respondents say too many monthly expenses affect their ability to save for retirement. That pressure is not abstract, as it is the day-to-day reality of households trying to save while essential costs climb.
The survey captures how widespread the strain has become. Too many monthly expenses affect 67 percent of workers. Financial hardship affects 64 percent. Caring for and financially supporting family members affects 62 percent of respondents. Credit card debt affects 58 percent, while another 57% are affected by paying down existing loans. These forces shape saving behavior long before market volatility enters the picture.
Behavior One: Save Through Pessimism
The first habit is the foundation. Goldman found that access to a workplace plan is associated with a 29 percent higher savings-to-income ratio, and early savings accounts add another 14 percent impact. Automation is the mechanism that makes this possible. Money moves into savings before sentiment has a chance to interfere.
The generational split is sharp. Competing priorities affect more than 75 percent of Millennials and more than 70 percent of Generation Z, compared with roughly 30 percent of Baby Boomers. Younger savers who set a contribution rate and keep it steady effectively pre-decide against pausing when the budget feels tight. The survey shows that the budget often does.
Behavior Two: Stay Invested Through Volatility
The second habit is staying invested when it feels uncomfortable. The survey does not track the VIX, but it does capture the emotional side of volatility. Seventy percent of workers report at least some stress or neutrality when managing retirement savings. Stress is the moment when savers are most likely to sell. Grit is the moment when they stay put.
The survey’s broader findings reinforce the point. Workers who maintain equity exposure through volatility events tend to build higher savings-to-income ratios over time. Recoveries often arrive before confidence returns. The saver who remains invested captures the rebound. The saver who sells waits for reassurance, and reassurance usually lags the market.
Behavior Three: Reinvest Dividends
The third habit is the quiet engine behind long-term growth. The survey highlights reinvesting income as a core behavior among high-grit savers. Reinvestment turns dividends and interest into additional shares, which then generate their own income. This cycle repeats across downturns and recoveries, building a compounding base that does not depend on perfect timing.
What the Data Shows
The Goldman findings reveal what high savers actually do. Three patterns stand out. High-growth savers use a workplace contribution rate and increase it on a schedule rather than based on a feeling. They maintain equity exposure amid volatility because recoveries tend to arrive before headlines shift. They reinvest income automatically so that dividends and interest buy more shares without requiring a decision.
None of these behaviors requires predicting interest rates or correctly reading sentiment. They require staying in place while the data moves around. The 49 percent gap is what that discipline looks like when it compounds across a career.
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