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.
Which is both in the article and OP summary.
40,000 still approaches zero. Its one or 2 years of expenses at best.
Why, you’re welcome for the link to the PDF! I’m glad you enjoyed reading it and appreciate your insightful and loquacious feedback on the matter at hand. You are a true gem of the lemmyverse, evenglow.
Evenglow, thoughts arrive like butterflies Oh, he don’t know, so he chases them away