The average retirement savings balance across Americans of all ages is $89,300, according to Northwestern Mutual. And that's not so alarming because many people who are still in the process of building savings have 20 years or more to meet their goals.

What's a bit more disturbing is that the average 60-something only has a nest egg worth $112,500. And while a 40-something might have a few more decades to build personal retirement wealth, a 60-something might be right on the cusp of closing out their career.

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Source Fool.com