Find out how you measure up to your peers.
Saving for retirement is a massive financial goal. Not only do you need to save a sizable amount of money now, but the consequences of not doing so can be severe. With the decline of defined-benefit plans — in which employees receive a steady paycheck in retirement thanks to employer-funded pensions — the responsibility to save for retirement has shifted primarily to the individual.
Planning for retirement is a big responsibility, but it isn’t a one-size-fits-all journey. Retirement savings looks different depending on your age, income, and financial priorities. The latest data on average retirement savings by age offers a snapshot of how Americans are preparing for the future, which you can use as a benchmark to help you measure your own progress.
Emily Batdorf | Yahoo Finance