56% of American adults have less than $10,000 saved for retirement when you combine the 33% who have nothing saved with the 23% who have a small amount saved.
Most Americans will need at least $1 million to retire and Millennials will likely need between $1.8 and $2.5 million, our savings rate is terrifying.
We are living longer lives, healthcare costs are constantly on the rise, pensions are a thing of the past, and the Social Security trust fund is on track to be depleted by 2034.