49% of middle-class workers will be poor in retirement

retirement

To maintain living standards into old age we need roughly 20 times our annual income in financial wealth.

In 2010, 75 percent of Americans nearing retirement age had less than $30,000 in their retirement accounts. Downward mobility in retirement is a looming reality for both middle and higher-income workers. Forty-nine percent of middle-class workers will be poor or near poor in retirement, living on a food budget of about $5 a day.

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