A recent article in Employee Benefit Magazine stated:
46% of Americans have less than $10,000 saved for retirement.
40% of baby boomers now plan to work until they die.
36% of Americans say they don’t contribute anything at all to their savings.
87% of adults say they are not confident about having money for a comfortable retirement.
According to the Federal Reserve Bank of St. Louis, the American savings rate ticked along this past May at 4.5%. We collectively save less than five cents of every dollar earned.
Source: Craig J. Davidson, ebn.benefitsnews.com, July 15, 2014