Labor

Study: 1 In 3 Americans Has $0 Saved For Retirement

The alarming statistic comes from a recent GOBankingRates survey.

Photo Credit: Flickr

According to a new study,1 in 3 Americans has not saved any money for their retirement.

The survey was done by GOBankingRates and was conducted as three Google Consumer Surveys. It asked the following question: "By your best estimate, how much money do you have saved for retirement?"

Not only do a third of Americans report no retirement savings, 56% of Americans say they saved less than $10,000. The results reveal a striking gender gap when it comes to retirement savings. Women are 27% more likely than men to have no money saved for retirement. Men are twice as likely as women to have retirement savings of $200,000 or more.

The study quotes Kristen Bonner, the GOBankingRates research lead for the survey, who cites Census Bureau data showing women earn 79 cents for every dollar a man makes in a fulltime position.

"Women cannot save as much for retirement because they are not earning as much,” Bonner says.

Read the entire report.

 

Michael Arria is an associate editor at AlterNet and AlterNet's labor editorFollow @MichaelArria on Twitter.

Stay Ahead of the Rest
Sign Up for AlterNet's Daily Newsletter
+ sign up for additional lists
[x]
Select additional lists by selecting the checkboxes below before clicking Subscribe:
Rights & Liberties
Education
Drugs
Economy
Environment
Labor
Food
World
Politics
Investigation
Personal Health
Water
Media