For many Americans, 2020 was a tough year financially. Between March 2020 and January 2021, around 1.6 million individuals took out savings from their 401(k) plans under the CARES Act, which allowed those affected by the pandemic to withdraw up to $100,000 without incurring the usual early withdrawal penalty, according to retirement-plan provider Fidelity. That represents 6.3% of eligible individuals using Fidelity’s workplace savings platform.
But despite the volume of withdrawals from 401(k) accounts under the CARES Act, a third of 401(k) savers increased their savings rate in 2020. Fidelity also saw record contributions from women in the fourth quarter of 2020.
The overall average 401(k) balance came to $121,500 as of the fourth quarter of 2020, according to Fidelity.
https://www.cnbc.com/2021/02/24/how-much-americans-have-saved-in-their-401k-by-age.html
So many folks will simply not be able to retire.
Then if you just happen to make money when you retire overseas, the U.S. will tax you.