Half in U.S. close to retirement haven’t saved for it
By Lane Anderson, Deseret News
As baby boomers roll toward retirement, half of them don’t have retirement savings, according to a new report from the U.S. Government Accountability Office.
Fifty-two percent of households 55 and older haven’t saved a dollar for retirement, according to the study, although half of those do have a pension. Among the 48 percent that report some retirement savings, the median amount is $104,000 for households age 55-64, or about $310 a month.
Older households, age 65-74, have higher savings at $148,000 or $649 a month, which still offers little on which to live.