Retirement Gap: Americans Struggle to Save

by Anna Mahathey

Jul 28, 2016

Every day, 10,000 Baby Boomers enter retirement, hoping to maintain their quality of life while they are no longer working. Unfortunately, saving for retirement and stretching retirement income has become increasingly difficult, leaving far too many American households with little to no retirement savings.

Numbers to Know:

  • Fifty percent of Americans age 55 and older don't have any retirement savings.
  • Two-thirds of older Americans who live in poverty are women.
  • Median retirement savings for African-American and Latino households near retirement (age 55-64) totals $0.
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