The Federal Reserve's 2022 Survey of Consumer Finances—the most recent survey conducted—found that the median (middle-of-the-road) retirement savings for Americans was only $86,900.1 Only half (54.4%) of American families had retirement accounts in 2022,2 and retirement nest eggs vary by...
See the average retirement savings by age in the United States. Also, median and top 1%. Includes a tool to compare your retirement savings.
48% of U.S. workers with a retirement goal believe it’s not likely they’ll be able to save enough money to meet their goal,Bankrate’s 2024 Retirement Savings Surveyfound. Household expenditures Average cost of utilities On average, people spend around $380 a month on electricity, natural...
Does race impact savings rates?Research suggests that racial minorities face a tougher road to saving money. Around 75% of Latino and African American households have less than $10,000 saved for retirement. Nearly two-thirds of minority households don't have anything set aside for the future....
The average American isn’t prepared for the future. We don’t know about you, but we’re not content with being average. About a quarter of U.S. households have no money in their retirement savings, and of the families that havesomeretirement savings, only 40% think their retirement sav...
And that final 20% goes into savings. This includes retirement, investments, and emergency funds. This story was reported from Los Angeles. Most Watched View More video 1 injured in El Cerrito shooting video Sonoma County voters to decide on Measure J ...
What Is the $1K Per Month in Retirement Rule? Optimism About Gen X Retirement Readiness As Gen X account balances begin to overtake boomers’ balances, it may signal that Gen Xers are getting more serious about retirement savings. "This suggests that once Gen X investors start saving for reti...
The Boston College Center for Retirement Research publishes the National Retirement Risk Index (NRRI). It measures the share of American households that are at risk of being unable to maintain their pre-retirement standard of living in retirement. The index is updated each year. ...
The average figure of $41,700 may seem very high, as the average is skewed by a small number of high-net-worth individuals with a lot of savings.For a more realistic figure of where the average American stands, look at the median number instead. This number represents the midpoint value...