Question of the Day: What percent of Americans under 65 years old have $0 saved for retirement?
- What income can seniors receive in retirement if they have no savings?
- What is one huge disadvantage for those who start saving/investing for retirement later in their life?
- Why is starting to invest for retirement as early as possible beneficial?
- Will this information influence how you think about saving/investing for retirement?
Behind the numbers (Federal Reserve):
"While most non-retired adults had some type of retirement savings, only 36 percent of non-retirees thought their retirement saving was on track. Because retirement saving strategies differ by circumstances and age, survey respondents assessed whether or not they felt that they are on track, but they defined that for themselves. Thirty-six percent of non-retired adults thought their retirement saving was on track, while 45 percent said it was not and the rest were not sure."
Here's an inspiring story (and activity) that demonstrates that it's not how much you save but rather how soon you get started and how consistent you are. It's the story of the $8 million janitor!
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