42% of Americans have less than $10,000 saved and will retire broke.
Key Points
Nearly half of Americans have less than $10,000 stashed away for retirement, according to a report by GoBankingRates.has destroyed any retirement dreams.At this rate, retirement is more of a fantasy than a reality for many people in this country.for when they retire, according to a study by GoBankingRates.
The No. 1 reason most people cited for not stashing more away was because they didn't earn enough to save, followed by the fact that they were already struggling to pay bills, GoBankingRates said. The personal finance site polled more than 1,000 adults online in February. For those with little or no savings, a serious lack of proper investment income and planning, coupled with a longerAlthough millennials are most likely to have less than $10,000 saved, older Americans are also becoming steadily
, according to a separate study by United Income, a start-up that aims to apply big-data analysis to financial planning.
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