Piggybacking off of the Millennial Retirement thread. It is not shocking that millennials aren't saving for retirement because their parents probably never taught them.
56% of Americans have less than $10,000 saved for retirement, including 52% of Gen Xers and 45% of Boomers. That is a huge problem.
75% of people over 40 are behind in saving for retirement. These people are really behind the 8 ball as they have missed out on years of compounding interest. Albert Einstein - "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it. Compound interest is the most powerful force in the universe."
Also, their goal of having 5% saved based off of your income is staggeringly low IMO but a good place to start.
This is a really good article if you ignore the paragraph where they push the mythical, lazy gender pay gap. That's a topic for another thread that has been debunked here several times in the past.
http://time.com/money/4258451/retirement-savings-survey/
56% of Americans have less than $10,000 saved for retirement, including 52% of Gen Xers and 45% of Boomers. That is a huge problem.
75% of people over 40 are behind in saving for retirement. These people are really behind the 8 ball as they have missed out on years of compounding interest. Albert Einstein - "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it. Compound interest is the most powerful force in the universe."
Also, their goal of having 5% saved based off of your income is staggeringly low IMO but a good place to start.
This is a really good article if you ignore the paragraph where they push the mythical, lazy gender pay gap. That's a topic for another thread that has been debunked here several times in the past.
http://time.com/money/4258451/retirement-savings-survey/