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.
My retirement plan is literally a nitrogen tank and an airproof tent in the woods. I have a little airsmithing experience, I don’t think it will be that challenging.
I have tried over and over again to get ahead and the system keeps knocking me on my ass, which is fine… despite all that, I still have a better life than any of my ancestors might have had pre-industrial age, but eventually you get to a point where you realize that you won’t have that picturesque twilight of your life. No rocking chair on the deck looking out at the lake. No bedside with all your family surrounded and finding closure.
I’m back to square one again, after four layoffs, after losing my entire savings twice to medical issues with people I care about, losing my home and every material property I owned due to losing a business because of aforementioned medical drama.
I used to imagine what it might be like to retire, but it ain’t happening. And I’m getting more tired every day. I can only imagine in a couple more decades I will be so very done with this game if I’m still standing.