35% of US households have no retirement savings plan – St Louis Fed

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According to the St Louis Fed:

Overall, 35 percent of U.S. households do not participate in any retirement savings plan.

Even among those households that do hold retirement accounts, many of them have low account balances. Figure 1 plots the sum of account balances of all IRAs, Keogh accounts and pension plans by percentile for various age groups. The median (50th percentile) household holds only $1,100 in its retirement account. Even the 70th and 80th percentiles of households have only about $40,000 and $106,000 in their retirement accounts, respectively.

This is literally before the sh1t hits the fan.

Then we wonder why Roseanne tops the ratings charts…

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