"The 2022 [National Retirement Risk Index (NRRI)] shows that ... between 2019 and 2022, the share at risk dropped from 47 percent to 39 percent.... Two major contributors to the stunning improvement in the NRRI seem unlikely to persist. First, housing prices are about 14 percent above their long-run trend for the last 30 years, and may well revert to trend over time. Second, 'new saving' is almost certainly a one-shot COVID phenomenon. Indeed, personal saving rates have returned to pre-pandemic levels and so has credit card borrowing."  MORE >>