Almost A Third Of Those With Savings Have Less Than $1,000 For Retirement

Almost A Third Of Those With Savings Have Less Than $1,000 For Retirement

A recent study shows that most Americas are not prepared for retirement. Nearly 1/3 have less than $1,000 saved. Greenwald and Associates and The Employee Benefit Research Institute (EBRI) put out a survey titled “Preparing for Retirement in America,” to see how much money people had saved for retirement. Their study found that only 65 percent of workers have any savings for retirement which is a 10 percent decrease from their 2009 figure. In order to retire comfortably, our nation’s 20 year olds need to save at least $7 million to retire comfortably. Most of our nation’s workers save money through 401k programs provided by their employers, however, about 50 million Americans do not have that ability.

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