15% of Americans Risk Retiring Flat Broke
Workers who neglect their retirement savings do so for a number of reasons. For some, it's a matter of pressing expenses getting in the way. For others, it's an overreliance on Social Security. But ignoring your retirement savings means setting yourself up for a cash-strapped existence down the line. And unfortunately, 15% of Americans risk that very fate.
In a new GOBankingRates survey, 15% of Americans have less than $1,000 in their 401(k)s and IRAs. And it's not just younger workers who fall into this category.
Almost 20% of workers aged 35 to 44 have under $1,000 in a retirement plan. The same holds true for over 12% of workers between the ages of 45 and 54, and roughly 8% of those aged 55 to 64.
Source Fool.com
