Time certainly goes by fast. One day you’re interviewing for your first job and the next thing you know you’re a few short years from applying for Social Security.
While it’s never too early or too late to start planning for retirement, when it comes to retirement savings in the U.S., later seems to be the standard. According to RothIRA.com, only 56% of today’s workers in the U.S. are currently saving money for their retirement, and 38% of those currently saving have less than $10,000 saved. With one-third of Americans admitting that they have no retirement savings at all, it’s clear that many U.S. workers will reach retirement age with little to no resources to count on.