When I look at retirement savings data I like to see the situation for those that will be retiring fairly soon. I don't really care about the savings of 25 to 34 year people. It's kind of like looking at those debt charts that say we'll have a problem in 2060. I don't care about 2060. Show me where there is a problem coming next.
There is a problem today, right now, for the retirement savings of Americans in the 55 to 64 year old age bracket. As you can see in the chart below from the National Institute on Retirement, over 90% of Americans in this age bracket have less than 400% of their annual income saved. Over 50% have less than 100% of their annual income saved.
This data was compiled at the end of 2013 following a massive rally in stocks, bonds and real estate. Just imagine how things will look when all these markets turn down together in the years ahead while incomes decline and job losses return.