Study Shows Only 20% of Near-Retirement Workers Financially Prepared

Tuesday, 25 June 2024, 09:00
A recent study highlights the concerning financial situation of individuals nearing retirement age, with only one in five workers found to be on track financially. The median retirement savings of 55-year-olds is reported at just $50,000, falling below the recommended levels by financial experts. This data underscores the urgent need for individuals to assess and improve their retirement planning efforts to secure a stable financial future.
CBS News
Study Shows Only 20% of Near-Retirement Workers Financially Prepared

Retirement Readiness Study

A new study delves into the financial preparedness of workers nearing retirement.

Key Findings:

  • Only 20% Financially Ready: Just one in five workers are on track for retirement savings.
  • Median Savings: Individuals aged 55 have a median savings of $50,000, below expert recommendations.

The data indicates a significant gap between actual savings and the ideal amount needed for retirement.

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