4. Rural Workers

“In recent decades, economic activity in the U.S. has become increasingly concentrated in urban and suburban areas. As a result, rural workers are getting left behind regarding employment opportunities and retirement preparations,” Collinson said.

Rural workers have lower household incomes than suburban and urban workers ($65,000, $88,000, $90,000, respectively) (estimated medians).

Only 66% of rural workers are offered a 401k or similar plan by their employer, and 72% of them participate. In comparison, 74% of both urban and suburban workers are offered a plan, and approximately eight in 10 participate (77%, 80%, respectively).

Rural workers have saved $33,000 in total household retirement accounts, while urban workers have saved $67,000 and suburban workers have saved $82,000 (estimated medians).

Forty-five percent of rural workers expect to retire at age 70 or older or do not plan to retire. Thirty percent expect Social Security to be their primary source of retirement income.

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