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.
