Are Americans’ retirements looking dismal or promising? Depends on whom you ask. But one thing is for sure: retirement data doesn’t lie. In fact, we’ve gathered some of the most current statistics on the state of retirement in the U.S. so you can form your own opinion.
Retirement Savings in U.S. Households
- One-third of Americans have no retirement savings or pension. This includes 27 percent of the age 60 and older population.1
- Women are 27 percent more likely than men to have zero retirement savings.2
- 23 percent of Americans have saved less than $10,000.2
- Nearly half of Gen Xers have saved more than $10,000 for retirement. Over a quarter have managed to put away $100,000.2
Attitudes about Retiring in America
- 49 percent of adults with self-directed retirement accounts are “not confident” or only “slightly confident” in their ability to make the right investment decisions.1
- 43 percent of Americans have put some thought into what their retirement will look like, but only 19 percent have a definite idea.3
- 57 percent do not know how much they will need to fund their ideal retirement lifestyle.3
- 44 percent do not know when they will retire (but that leaves 56 percent who do).3
One last thought on retirement in the U.S.:
Fifty-two percent of Americans who do not seek out advice about investment decisions say they either cannot afford assistance or would like help but do not know where to get it.1
If you need help with retirement planning or know someone who does, please reach out to our team. We are here to help.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.