With the possibilities of too much debt, little savings, or stalled wages, Americans fall victim to retirement crises every day. The following statistics may scare you into jumpstarting your financial future. One sickening retirement cost will give you sticker shock (page 10).
1. One in three Americans has nothing saved for retirement
- More than half of Americans have less than $10,000 saved for retirement.
A recent survey from GoBankingRates.com found over half of Americans have no more than $10,000 saved for retirement, and 1 in 3 have nothing saved at all. The National Institute on Retirement Security estimates the nation’s retirement savings gap is between $6.8 and $14 trillion.
Next: Your gender influences your financial future.