Many US workers have under $1,000 saved for retirement, new report finds

Many working Americans remain unprepared for retirement, according to a new report from the National Institute on Retirement Security.

The report found that workers who had money saved in workplace retirement accounts, such as 401(k)s, had a median balance of $40,000 in December 2022. When all workers are included — even those with no retirement savings — the median amount saved was just $955.

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