I considered myself pretty well set going into 2007 - 2008 but unfortunately cannot say that any longer. I’ve got 15 to 20 years to correct the situation or will need to work until I die. That, or depend solely on Social Security and a very small pension assuming it survives. I suspect many are in the exact same situation.
I had to retire two years early due to health. Very lucky to have no debt thanks to the wife so social security is sufficient for our current needs. All bets are off though if inflation rears its ugly head or another health crisis occurs.
so while we had our house paid off at one time, now we have a 2nd mortgage, plus other bills...
my husbands work ended suddenly and the unemployment and then SS didn't equate to his pay...
I however still work my 24 hrs a week at age 63 and we have savings in our retirement accounts....
and despite our bills, I'm still able to save a bit more on my 403B....