1 in 3 Americans Has Less Than $50,000 Saved for Retirement
Most people would agree that $50,000 is no small chunk of change. That's enough money to cover basic living expenses for a year or two for a lot of households. But it all depends on the context. If someone were to offer you a $50,000 check, you'd feel like you won a great prize. But for those who only have $50,000 or less to see them through retirement, the outlook is bleak.
This is the reality for about one-third of all Americans aged 40 to 79, according to a recent TD Ameritrade survey. What's even more disturbing is that 20% of adults 70 to 79 fall into this group. These individuals could still spend a few decades in retirement, and if they're unable to work, they'll run out of money quickly.
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Source Fool.com