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While just a small fraction of low-income Americans — who earn a median yearly salary of $19,000 — reported having some retirement savings to fall back on in 2019, a whopping 90% of high ...
A 2024 survey by AARP found that 20% of Americans ages 50 and over have no retirement savings and more than half (61%) are worried they will not have enough money to support them in retirement.
Just a small fraction of low-income Americans — who earn a median yearly salary of $19,000 — reported having some retirement savings to fall back on in 2019.
As of 2022, 50-year-olds had a median retirement savings balance of $115,000, per the Federal Reserve. If you want to use that as a benchmark, it leaves you with some serious catching up to do.
According to The Federal Reserve’s 2022 Survey of Consumer Finances, the average retirement savings balance was $333,940. This is a big number for sure, but is likely not going to be enough to ...
Additionally, 70% of those surveyed are concerned about prices rising faster than their income. About 1 in 4 US working adults 50 and older expect to never retire, AARP study finds Skip to main ...
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