It’s common knowledge that Americans aren’t saving enough for retirement. But just how large a deficit is startling.

According to a report from the National Institute on Retirement Security, the shortfall measures between $6.8 and $14 trillion. The study,released Thursday, found that 38 million (or 45%) of working-age households have no retirement account assets at all. All told, the median retirement savings of these households measured a paltry $3,000.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access