Reported about 1 year ago
A study found that 55-year-old Americans are not saving nearly enough for retirement, with a median savings of less than $50,000, far below the recommended amount of having eight times one's annual income saved by that age. Gen X, particularly older individuals, are the least prepared for retirement, facing challenges due to starting savings later in life. Many Gen Xers express concerns about not being able to retire securely and struggle to afford emergency expenses, highlighting the urgency for better retirement planning and increased savings efforts.
Source: YAHOO