40% Of Americans Have No Retirement Savings!

I wasn’t surprised to learn that the typical American family’s finances are in chaos. With the average family having a combined savings of less than $4000 dollars and making less than $44,000 dollars per year it’s no wonder the economy is a mess.

What did surprised me was that 40% of Americans are not even trying to save for retirement. I guess this 40% is really hoping their social security will be enough but I’m not sure it will be there when they need it.

Like This? Share It!

Typical American Family Financial Management

Click the Image Below to Make it Bigger



Typical American Family Financial Management

They have less than $4,000 in the bank

Neither adult has a retirement account in half of all U.S. households

The other half, their neighbors, have retirement savings of less than $36,000

They do not have a single mutual fund, stock or bond

Their home is work just over $150,000

However, they owe the bank more than $90,000 on that home

Their income is less than $44,000 per year

They have a credit card bill of over $2,200 that they cannot manage

C H A O S

40% of Americans are not saving for retirement

$117,951 is what the average American household owes in debt

25% of Americans do not have a savings account of any kind

2 trillion overall American personal debt which happens to be about the same as England’s Gross Domestic Product

Retirement

24% of workers have increased their retirement age within the last 12 months

18% of polled employees are secure in having enough money for retirement

Other