Most U.S. Households Facing Retirement Have Low Savings, Finds a Federal Study

Most U.S. Households Facing Retirement Have Low Savings, Finds a Federal Study

Most U.S. households facing retirement have low savings, finds a U.S. Government Accountability Office report.

The percentage of households 55 years and older with no retirement savings was nearly half at 48 percent in 2016. The percentage of those with retirement savings, but no defined benefit plan was 26 percent. The percentage of those with retirement savings and a defined benefit plan was 26 percent.

The good news is the percentage of people without retirement savings has decreased since 2013.

A 2019 Retired Couple Needs $285,000 to Cover Medical Expenses

A 2019 Retired Couple Needs $285,000 to Cover Medical Expenses

58% of Millennials Actively Saving for Retirement, Contrary to Popular Belief

58% of Millennials Actively Saving for Retirement, Contrary to Popular Belief

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