40% of Older US Workers Lack Retirement Accounts, AARP Finds
According to research from AARP, 40% of American workers aged 55 to 65 have no retirement account, while the average Generation X worker has saved just $215,000.
A significant portion of older American workers are approaching traditional retirement age without dedicated retirement savings, according to research released by AARP. The study indicates that 40% of workers aged 55 to 65 do not possess a retirement savings account.
In addition to the absence of dedicated accounts among older workers, savings metrics for Generation X reflect widespread financial hurdles. The research details that the average Gen X individual has accumulated approximately $215,000 in total retirement savings.
Financial analysts point out that these figures underscore growing concerns regarding long-term financial security in the United States. Many individuals approaching the end of their primary working years face potential shortfalls without adequate personal savings.
The findings highlight ongoing broader discussions regarding retirement preparedness, employer-sponsored savings access, and overall economic stability for individuals planning to transition out of the labor force over the coming decade.
Source attribution
- finance.yahoo.com
Original source links
- finance.yahoo.com: Original source
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retirement · AARP · finance · Gen X · savings
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