Money | retirement savings 1 in 3 Americans Don't Think They'll Be Able to Retire About 28% say they have nothing at all saved By Newser Editors Posted Mar 15, 2024 5:20 PM CDT Copied (Getty / Jinda Noipho) A new survey on the saving habits of Americans reveals some stark truths for a large number of people: 28% say they have saved nothing for retirement, according to the GoBankingRates survey. The breakdown for that by age group: 18-24 (28% have nothing saved); 25-34 (30%); 35-44 (35%); 45-54 (33%); and, maybe the most surprising, 55-64 (25%). 39% do not contribute to a retirement fund. 30% don't think they'll be able to retire, period. Previous studies suggest that most US adults figure they will need between $1 million and $1.25 million to retire comfortably, per MarketWatch. In the new survey, 25% of respondents put their retirement goal at less than $500,000; 25% put it between $500,000 and $1 million; and another 30% have it at more than $1 million. The problem is that most people's savings don't appear to be on track for these goals. The majority, 71%, would have five-figure savings at best, unless their habits changed. The survey is based on responses from 1,000 people. Read These Next Two state troopers were shot in Pennsylvania JD Vance in hot water over birthday boating trip. Kelly Clarkson's ex died a day after she disclosed he was ill. Trump is demanding a 'new' census. Report an error