Most workers who aren’t saving for retirement through their employers aren’t saving at all, the study found

New data suggests the average American worker has under $1,000 saved for retirement.

A report from the National Institute on Retirement Security found that the median savings for all employed adults between the ages of 21 and 64 were approximately $955. The study includes workers with 401(k) and other retirement savings plans, as well as the approximately 56 million workers who do not have access to employer-sponsored retirement plans.

Workers with retirement savings plans have a median balance of approximately $40,000 saved, according to the report. That figure is nowhere near the $1.5 million that Americans say they need to feel comfortable fully retiring.

  • supersquirrel@sopuli.xyz
    link
    fedilink
    arrow-up
    8
    arrow-down
    2
    ·
    5 days ago

    Life is a Crudite and we are merely sliced vegetables to be browsed over distractedly by the ultrawealthy.