Who Is And Isn't Saving For Retirement | Zero Hedge
Among households that earn less than $25,000 a year, around 75% have less than $1,000 saved, and almost 95% have less than $25,000.
Once you get to the middle income range, the outlook brightens a little: About half of all households earning between $50,000 and $75,000 have at least $25,000 put away, and around 20% of that group have saved at least $100,000.
Among six-figure earners, as you’d expect, the retirement balances look healthier still: More than 40% have saved at least $250,000, and 10% have saved at least $1 million.
...
Of course, just because you’re earning well doesn’t mean you’re saving much; about 12% of this high income group has saved less than $25,000 for retirement.
1 million doesn't even sound like a lot of money considering interest rates and people living in a third of their life in retirement with 40-60% of money going towards healthcare costs...
Among households that earn less than $25,000 a year, around 75% have less than $1,000 saved, and almost 95% have less than $25,000.
Once you get to the middle income range, the outlook brightens a little: About half of all households earning between $50,000 and $75,000 have at least $25,000 put away, and around 20% of that group have saved at least $100,000.
Among six-figure earners, as you’d expect, the retirement balances look healthier still: More than 40% have saved at least $250,000, and 10% have saved at least $1 million.
...
Of course, just because you’re earning well doesn’t mean you’re saving much; about 12% of this high income group has saved less than $25,000 for retirement.
1 million doesn't even sound like a lot of money considering interest rates and people living in a third of their life in retirement with 40-60% of money going towards healthcare costs...
