Even Americans with only modest retirement funds may be shocked to learn how many people are in desperate straits: as in, they have no nest egg at all.
Recent research by the Federal Reserve shows that an astounding one in four Americans (including the 27% who consider themselves retired) have absolutely nothing saved.
And even if you have something tucked away, it may not be enough — though that is something you can change even late in the game.
Americans run an estimated $3.68 trillion behind in retirement savings, according to the Employee Benefit Research Institute. While this includes all people aged 35 to 64, those in their 60s still didn’t fare too well.
Here’s how your savings stack up — and what you can do if you’re falling behind.
Amy Legate-Wolfe | Yahoo