The typical U.S. worker has $955 saved for retirement
The average American worker has less than $1,000 saved for retirement, underscoring the financial strain millions could face in old age, according to a new report from the National Institute on Retirement Security.
That figure factors in workers with 401(k) and other retirement plan savings, while also including the roughly 56 million U.S. workers who lack access to an employer-sponsored retirement plan. Median savings for all employed adults between the ages of 21 and 64 amounted to $955, the nonpartisan think tank found, tapping data from the U.S. Census Bureau’s Survey of Income and Program Participation.
