What the Average 57-Year-Old American Has Saved for Retirement

  • Publish date: since 3 days Reading time: 1 min read

How Late-50s Americans Compare on the Road to Retirement

Balance Looks Impressive at First

Catch Up Contributions Can Help Late Savers

Financial Experts Use Salary Benchmarks

High Interest Debt Can Hurt Retirement Progress

Increase Long Term Income

Median Savings Tell a Different Story

Reduce Lifestyle Expenses May Be Required

Retirement Feels More Urgent

Some Workers Consider Downsizing Later in Life

Supporting Multiple Generations

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By age 57, retirement starts feeling much closer and far more real. As many Americans in their late 50s start comparing their savings journey with others to determine if they've made enough progress to save for retirement, many ask themselves, "How do I fare in comparison?" Many people at or near retirement age still have a way to go, while some workers are well on their way.
 

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