Most American have saved very little for their retirement.
According to the 17th annual Retirement Confidence Survey (RCS),
over one half (51%) of people 55 and older have saved less then
$100,000. Only 17 percent of people 55 and older have a nest egg
of $500,000 or more. These figures exclude the value of their primary
residence and pension plans.
For many people $100,000 seems like a lot of money. But $100,000
will not last long and can generate only $5,000 per year at current
interest rates.
To ensure that you have adequate savings for your retirement, start
saving now. Make savings a top priority.
| Americans'
Savings (Excluding House and Pensions) |
| Amount Saved |
55+ |
| Less than $10,000 |
26% |
| $10,000 to $24,999 |
5% |
| $25,000 to $49,999 |
9% |
| $50,000 to $99,999 |
11% |
| $100,000 to $149,999 |
11% |
| $150,000 to $249,999 |
9% |
| $250,000 to $499,999 |
11% |
| $500,000 or more |
17% |
Related Articles:
Many U.S. Consumers Have Little
Cash to Spare
Save Now So You Can Spend Later
Save Your Way to a Financially
Secure Retirement
Posted June 12, 2007.
|
|
|
