Half in U.S. close to retirement haven’t saved for it
By Lane Anderson, Deseret News
As baby boomers roll toward retirement, half of them don’t have retirement savings, according to a new report from the U.S. Government Accountability Office.
Fifty-two percent of households 55 and older haven’t saved a dollar for retirement, according to the study, although half of those do have a pension. Among the 48 percent that report some retirement savings, the median amount is $104,000 for households age 55-64, or about $310 a month.
Older households, age 65-74, have higher savings at $148,000 or $649 a month, which still offers little on which to live.
Half of those who didn’t save have pensions? Let’s hope the country stays solvent and doesn’t go the way of Greece. Too bad there isn’t any gold or silver backing-up the dollar. We have no other choice but to trust in the full faith and CREDIT of the United States Government – who, by the way, is $19,000,000,000,000 in debt.
American asset value is about $270 Trillion, GDP was about $17.5 Trillion last year, GDP per Capita is about $55,000 per year, Unemployment is at 5.5%.
Firearms kill about 10.5 Americans per 100k of population, in Greece the rate is 1.6 per 100k.
So. No, we are not like Greece.