There's a Retirement Crisis on the Horizon — See How Your Savings Compare to the Rest of Your Generation's

In 1991, nan mean reported retirement age was 57; successful 2022, it was 61, according to a Gallup survey of much than 1,000 U.S. adults.

The summation is possibly not astonishing fixed caller inflationary pressure, but it paints a troubling image of what's up if Americans don't group themselves up for retirement successful nan years to come.

And a new survey from individual finance assets GOBakingRates suggests that galore of them won't. The research, which surveyed complete 1,000 U.S. adults, revealed that astir 40% of Americans are contributing thing to a retirement fund — and 30% of them opportunity they'll ne'er beryllium capable to retire.