Most of us work hard for four decades or more in the hopes of being able to retire comfortably down the line. But while today’s workers would probably like to retire with a decent lifestyle, their chances of doing so are looking pretty bleak. That’s because 42% of Americans have less than $10,000 saved for retirement at present, with nearly 14% having no money set aside for the future at all.
GOBankingRates, which uncovered this data, also reports that just 16% of working adults have $300,000 or more in retirement savings. Not only that, but one-third of baby boomers have less than $10,000 in a retirement plan, which means that they’re running out of time to build themselves reasonable nest eggs.