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.
we have social security which has its own tax structure taken out and you get relative to your pay in and most people will have to spend most of it on their health expenses from the retirement universal healthcare we have that has you pay 20% unless you sign up for a scam corpo thing that doesn’t allow you to get proper healthcare so is cheaper. I worked for a company with european offices and when they went through the healthcare decuctible and out of pocket and savings accounts to pay for these things and such you could see some of the folks from over there were like. Wow. That is some shit.