The Average American Has Very Little In Retirement Savings!
Posted By thestatedtruth.com on May 11, 2010
Source:Â U.S. Census
The average person will have a hard time once retired. These stats are numbing to say the least.
The average retirement accounts for many Americans is near $50,000, but half of Americans have $2,000 or less in their account. Many middle class Americans are simply not prepared for retirement. Even with Social Security, this will only be a small amount. So with a large number of baby boomer depending on a smaller income in years to come, what does this do to our consumption based economy? Also, you have to sell your stocks to get the funds out of them so what is going to happen with millions of baby boomer selling stocks into a market where younger Americans have very little to save, not to mention save for retirement?
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