57% of US Workers Have Less Than $25K in Savings
New survey suggests retirement trouble looms for nation
By John Johnson, Newser Staff
Posted Mar 19, 2013 12:35 PM CDT
   (Shutterstock)

(Newser) – The Wall Street Journal points to a double-whammy in terms of retirement savings: People aren't saving enough, and they're living longer. Among the depressing nuggets from a new survey by the Employee Benefit Research Institute:

  • 28% of Americans don't think they'll be able to retire comfortably, the highest percentage since the EBRI began such surveys 23 years ago.
  • 57% of workers have less than $25,000 in household savings and investments, not including their homes. That's up from 49% in 2008.

  • 66% of workers say they have saved for retirement, down from 75% in 2009.
  • Only about 50% were sure they could quickly have $2,000 in hand to pay for an unexpected emergency.
  • All this comes as people are living longer: A man who turns 65 in 2013 is expected to live another 20.5 years, up from 19.5 in previous projections, and women 22.7 years, up from 21.3.

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Showing 3 of 26 comments
MisterPlinkett
Mar 20, 2013 1:52 AM CDT
Only going to get worse as long as we maintain "leadership" like this. And we'll maintain this type of "leadership" as long as you sheeple stay asleep or keep making excuses for these pieces of shit. As long as our god awful government manipulates interest rates and prints money, there is no point in saving dollars anyway. Inflation is much higher than interest rates.
kj_nm
Mar 19, 2013 5:05 PM CDT
the Hong Kong media reported this morning that one in nine there has over a million dollars in cash, plus other assets but who wants to live in China
vlad
Mar 19, 2013 3:36 PM CDT
probably closer to 70 %