Most Americans not ready for retirement
September 7, 2016 5:00 AM
Drew Angerer
Showing improvement, but needs more work
Fidelity Investments' most recent bi-annual retirement savings assessment, which features its "Retirement Preparedness Measure," shows that people are saving more and doing a better job of getting closer to their retirement goals. However, it also shows that a majority (55%) are still at risk of being unprepared to completely cover essential living expenses in retirement, such as housing, health care and food.
Scroll through our slideshow to see a demographic breakdown on retirement preparedness.
Data for this slide comes from Fidelity. Subsequent slides come from financial website GoBankingRates.com.
Scroll through our slideshow to see a demographic breakdown on retirement preparedness.
Data for this slide comes from Fidelity. Subsequent slides come from financial website GoBankingRates.com.
All ages
A full third of Americans have no retirement savings. And almost 3 in 4 have less than $100,000.
Over 55
Among those investors older than 55, more than 60% are still south of $100,000 in retirement savings. And 28% has saved nothing yet.
Generation X
Roughly 72% of GenX has less than $100,000 in retirement savings. Nearly 30% has saved nothing.
Millennials
The youngest generation in the workforce, almost 90% of millennials have saved less than $100,000 for retirement. More than 42% has not started to save yet.
