How much do you have saved for retirement?

It’s a question that all of us think about from time to time. The topic of Americans’ retirement savings has grown more important in recent years.

After the pandemic and now with a recession looming, it’s more important than ever to think ahead. So where do most people stand financially for the future?

Ben Carlson reports here by way of A Wealth of Common Sense and the Bureau of Labor Statistics. According to these numbers while over 70 percent of private sector workers had access to private pension plans, only about half of them were participating.

The 401(k) savings rates across four generations averaged at about 13.7 percent, with the average balance at just over $100,000. Are you behind on retirement planning? Don’t worry, you can catch up.

You can also count on us to fight for your retirement. Our legislative efforts aim to make yearly Social Security cost-of-living adjustments (COLAs) a tradition, so retirees get every penny of what they paid in adjusted for inflation. To help with our cause, and to get more news like this, follow us on Facebook and Twitter.