“”””Americans say they need roughly $1.5 million to retire comfortably, and the average savings for all employed adults aged 21 to 64 is just $955. “”””
This statistic makes no sense. 21 year old people rarely have any savings.
What are the savings of people in the 45 to 64 age range?
That’s a good point about 21-45 but it’s still low. My daughter is 32 now but had a lot more that $1000 by the time she was 23. I didn’t have $1000 saved until I was close to 30.
There is a 19 trillion inheritance that’s going to be handed down the next twenty years. People will be fine.
“What are the savings of people in the 45 to 64 age range?”
45-54 group averages $115,000 (median) $313,220 (mean)
55-64 group averages $185,000 (median) $537,560 (mean)