It's an alarmingly small number.
We're told of the importance of saving for retirement, especially given the way healthcare and other senior living costs continue to rise. But apparently, a large number of workers aren't listening. In fact, one-third of Americans have less than $5,000 set aside for the future, according to new data from Northwestern Mutual. Incidentally, 21% of Americans have no retirement savings at all.
It's one thing to have less than $5,000 in your nest egg when you're only in your 20s or even 30s. But if you've been in the workforce for quite some time, that $5,000 doesn't paint a great picture. And if you don't take steps to ramp up, you'll be sorry for it later on.
Maurie Backman | The Motley Fool