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[ad_1] Millions of Americans born between 1965 and 1980, collectively known as Generation X, are headed toward retirement woefully unprepared financially for retirement, a recent analysis shows. The typical Gen-X household with a private retirement plan has $40,000 in savings, according to a  report  this week from the National Institute on Retirement Security (NIRS). The figures are even more more alarming for low-income Gen-Xers, who have managed to stash away no more than about $4,300, and often even less, the group found. Across all members of the generation, some 40% don't have a penny saved for retirement.  "Gen-Xers are fast approaching retirement age, but the data indicate that the vast majority are not even close to having enough savings to retire," NIRS Executive Director Dan Doonan said in a statement. "Most Gen-Xers don't have a pension plan, they've lived through multiple economic crises, wages aren't keeping up with inflation an...

[ad_1] Millions of Americans nearing retirement without savings - CBS News Watch CBS News About half of all Americans ages 55 to 66 have no retirement savings, according to U.S. Census data. Janet Shamlian examines the financial struggles many face as they near retirement in the CBS News series "Retirement Ready." Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On [ad_2] Source link https://worldnews2023.com/economy/millions-of-americans-nearing-retirement-without-savings/?feed_id=82230&_unique_id=64e8edaea9060

[ad_1] Millions of Americans born between 1965 and 1980, collectively known as Generation X, are headed toward retirement woefully unprepared financially for retirement, a recent analysis shows. The typical Gen-X household with a private retirement plan has $40,000 in savings, according to a  report  this week from the National Institute on Retirement Security (NIRS). The figures are even more more alarming for low-income Gen-Xers, who have managed to stash away no more than about $4,300, and often even less, the group found. Across all members of the generation, some 40% don't have a penny saved for retirement.  "Gen-Xers are fast approaching retirement age, but the data indicate that the vast majority are not even close to having enough savings to retire," NIRS Executive Director Dan Doonan said in a statement. "Most Gen-Xers don't have a pension plan, they've lived through multiple economic crises, wages aren't keeping up with inflation an...