“55% of Americans are behind on saving…”
November 4, 2022
“Around 55% of Americans say they’re behind on saving for retirement, a recent Bankrate survey found…
But many Americans aren’t meeting those milestones. Those between 25 and 34 have median 401(k) balances of just over $14,000, per a report by investment firm Vanguard.
That number doesn’t include other types of investments or cash savings, but it’s still nowhere near Fidelity’s recommendation for people in their thirties. Those earning $15 an hour would need roughly $30,000 to meet the recommended goal…”
https://www.cnbc.com/2022/11/04/more-than-half-of-americans-behind-on-retirement-savings.html
Also 401k’s are garbage. Don’t invest in them. Invest your money on your own. If you’re young these things wont exist when you retire. Your savings will be wiped out.