U.S. Retirement saving - Statistics & Facts

Published by M. Szmigiera, Oct 14, 2019
For those who wish to enjoy a comfortable lifestyle in retirement, saving is important and while the total financial assets of U.S. federal government retirement funds in 2017 amounted to around four trillion U.S. dollars - up from 3.2 trillion in 2010. With a mounting deficit, financial troubles and public debt levels at over 70 percent of GDP, the pension system is in an acute state of crisis.

Entitlement programs such as social security have been under attack in Congress from both sides of the isle. Curtailing spending on these entitlements is among the suggestions being made as a means of lowering the national deficit. It is also being suggested that those saving accrued by middle-class seniors will be nowhere near sufficient to support their current standards of living. The most popular type of retirement savings account was the 401(k) plan in 2019. This plan allows an employee to choose between receiving compensation in cash or a portion of it gets put into a 401(k) account.

Americans approach the topic of saving for retirement in various ways. A 2019 survey showed that almost half of U.S. workers guessed the amount of retirement savings they would need, whereas only four percent used the amount given to them by a financial advisor. However, more than one quarter of Americans began to save for retirement before the age of 18.

Interesting statistics

In the following 4 chapters, you will quickly find the 24 most important statistics relating to "Retirement saving in the United States".

Retirement saving in the United States

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Important key figures

The most important key figures provide you with a compact summary of the topic of "Retirement saving in the United States" and take you straight to the corresponding statistics.

Saving behavior

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