Retirement CRISIS is here!

40 million working Americans haven't saved a penny for retirement

A recent study by the National Institute on Retirement Security concluded 40 million, or 45%, of Americans do not have a single penny saved for retirement. Those who do have money saved up have an average of $2,500 put away, a 16.7% drop from 2013. The statistics are particularly troubling for those nearing retirement, aged 55 to 64, as the median account balance for the group is just $14,500. "It's no wonder Americans believe the nation faces a retirement crisis [because] the evidence is irrefutable that the hope of retirement is out of reach for millions of middle-class Americans," noted Diane Oakley, NIRS executive director. 

Read more:  http://www.businessinsider.com/financial-advisor-insights-march-19-2015-3#ixzz3UrmdI5rs