For many American – and Texas voters – retirement is anything but secure.

A stunning 90% of registered voters say there is currently a retirement savings crisis in America, according to a national survey conducted for BlackRock, a global investment, advisory, and risk management firm. 

Nationally, 84% of registered voters plan to retire, and think they’ll need $2.19 million in savings to accomplish that. A separate, but related, survey of registered voters in Texas found 78% plan to retire and believe they’ll need an average of $2.74 million to do so. Among the Texans not planning to retire, 72% say that’s because they won’t be able to afford retirement.

Their concerns could get some attention in Austin and Washington D.C. as Texas lawmakers consider policies that could impact the state’s pension funds in advance of the next state legislative session that will begin in January. Congress is doing the same in advance of post-election/lame duck session lawmaking in the nation’s capital.

Some specific concerns noted between the two surveys:

• Nationally, 78% of registered voters worry they won’t have enough money to cover long-term care through retirement; in Texas, 74% share that worry.
• 75% of U.S. voters and 71% of Texas voters are concerned about keeping their current standard of living through retirement.
• 73% of American voters and 71% of Texas voters worry about having enough savings and investments to fund their retirement needs.
• Only 22% of registered voters nationally and 24% of Texas voters are extremely or very confident they’ll have the money they need in retirement.
• Nationally, only 39% of registered voters have more than $10,000 readily available in savings for emergencies; in Texas, it’s 43%.

Nationally, 30% of registered voters have no retirement savings; 21% have less than $50,000 saved; 15% have $50,000 to $150,000; 19% have $150,000 to $500,000; and 15% have more than $500,000 saved.

Nationally, 41% of registered voters under 35 years old have no retirement savings; 53% of women in that age group have no savings. Among all Americans, 40% of Black voters and 39% of rural voters have no retirement savings, the survey found.

Among Texas voters, 32% of registered voters have no retirement savings; 18% have less than $50,000 saved; 12% have $50,000 to $150,000; 17% have $150,000 to $500,000; and 18% have more than $500,000 saved.

The Texans with no retirement savings include 52% of those under age 35, 46% of Black voters, 41% of adult women under age 54; 41% of women of color, and 39% of Texans without college educations.

More than half of the Gen Z voters polled (those between 44- to 59-years-old) — 54% — have less than $150,000 saved for retirement. The oldest in that group hope to retire, on average, in five years.

To top it all off, only 13% of registered voters — that’s about one in eight — think elected officials in Washington, D.C. are focused on helping people like them plan and save for secure retirement. And when politicians across the country are introducing and passing legislation that inserts politics into investment decisions, it’s easy to understand why they feel that way.

Taking politics out of the mix is an easy way to help feelings of retirement security nationwide.

Hopefully policymakers in state capitals, like Austin, TX, and in Washington, DC see that a wide majority of voters across the political spectrum are concerned about their own retirement security and are hopeful for policies that can help support their own efforts to save appropriately for their golden years.