Friday, April 09, 2010

A scary statistic - 43% have less than $10,000 saved for retirement

43% have less than $10k for retirement reports:

The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.

The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute's annual Retirement Confidence Survey. That excludes the value of primary homes and defined-benefit pension plans.

Workers who said they had less than $1,000 jumped to 27%, from 20% in 2009.

I would love to know some statistics for those within ten to fifteen years of retirement.

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Anonymous said...


what's frightening is how many baby boomers have no savings for retirement.

The damage of the last 10 years false economy is about to start showing up in spades.

I know lots of 50 something boomers who have no pension, no savings.
Their 401Ks' got mauled during both the DotCom and 2007 financial crisis and they thought they had massive home equity.

Robert M. Lindsey said...

I wonder how much of this is the economy. I know a guy who told me he lost two or three times my yearly income the first two weeks of the current recession. People who didn't have a whole lot now have a whole lot less.