GITNUX MARKETDATA REPORT 2024

Must-Know Retirement Crisis Statistics [Current Data]

Statistic 1

"Approximately 45% of working-age households have no retirement savings."

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Statistic 2

"A third of non-retired Americans have no retirement savings."

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Statistic 3

"By 2035, Social Security will only be able to cover 79% of scheduled benefits."

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Statistic 4

"42% of millennials have not begun saving for retirement."

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Statistic 5

"Only 56% of Americans are participating in a workplace retirement plan."

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Statistic 6

"The median retirement savings for U.S. households aged 55-64 is $107,000."

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Statistic 7

"About 47% of US families have debt related to maintaining their residence, resulting in pressure on their retirement plan."

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Statistic 8

"The average 65-year-old man today can expect to live to age 84 and the average 65-year-old woman can expect to live to age 86."

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Statistic 9

"About 66% of retirees primarily rely on Social Security as a source of income in retirement."

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Statistic 10

"The average worker’s retirement savings are only enough to cover 2.5 years of retirement."

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Statistic 11

"25% of Americans aged 65 to 74 have an outstanding mortgage on their primary residence."

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Statistic 12

"71% of 55-64 age group employees have reported that they have retirement savings of below $100,000."

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Statistic 13

"21% of married couples and 45% of single persons rely on Social Security for 90% or more of their income in retirement."

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Statistic 14

"One in four retirees returns to work or “unretires,” mainly due to financial reasons."

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Statistic 15

"In the US, the median 401(k) balance in 2019 was just $22,217, which is too low for a comfortable retirement."

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Statistic 16

"The retirement crisis is predicted to impose a cost of $4.7 trillion over the next 30 years on American taxpayers."

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Statistic 17

"68% of workers are “not very or not at all” confident that they will be able to accumulate enough savings for retirement."

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