It might also be comforting to know you are not alone in your procrastination. According to the latest survey by GOBankingRates, a whopping 29% of Americans haven’t even begun their retirement savings journey.
Whether you’re fresh out of college at 22 or have hit the mid-fifties milestone and realize you need to hustle, check out these survey results and expert tips to help you jumpstart your journey to a sizable retirement fund.If you’ve yet to begin saving for retirement, you’re in the company of many fellow Americans.
The majority of Americans (29%) have no retirement savings, while 20% have saved $1,000 to $10,000. Only 11% have saved $10,0001 to $25,000, another 11% have $25,001 to $50,000, and the same percentage falls in the $50,001 to $100,000 range.
Those with more substantial savings include 7% with $100,001 to $250,000, and 6% with $250,000 to $500,000. A mere 2% have saved $500,001 to $750,000, and only 1% have exceeded $750,001. A tiny 2% enjoy savings surpassing $1 million for retirement.
