The investment management chief has often shared his thoughts on a coming retirement crisis, saying not enough is being done to generate wealth for younger generations when they hit retirement age.

This week Fink, who is worth $1.2 billion per Forbes, warned that it’s also only those who work for the biggest companies in the world who are truly benefitting from retirement planning.

“One of the fundamental problems in America is, retirement’s not that bad of a problem for the top Fortune 500 companies. We are providing enough support to our employees where they’re getting the adequacy of retirement,” Fink told CNN earlier this week.

“It’s beyond that, we refuse to talk about how do we get more broadening of our economy with more Americans participating in that. That’s why we have to have a conversation in Washington, this has to be considered a national priority and a national promise to all Americans.”

When countered that it’s easy for a billionaire to lecture the public on saving, Fink reportedly responded: “There was a time when I wasn’t one.”

Fink—whose organization handles $10 trillion in assets earmarked for retirement—is correct in his stance that many Americans don’t feel sufficiently prepared for the day they stop working.

A Fed report released last year found that, on average, only 34% of the public felt their savings were on track. This was up from a year prior as in 2022, when just 31% of Americans said their savings schedule was going to plan, but still down on the 40% reported in 2021 when COVID-related savings were at their peak.

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