The average US worker remains concerned about their retirement even as
the stock market reaches new all-time highs. The WSJ reports new data
that shows the impact of stagnating wage growth and aging demographics
is combining to squeeze individuals as a depressing 57% of Americans reported less than $25,000 in household savings and investments. On the bright side, the latest and greatest ‘Cyprus’ tax limit appears to be €20,000, or roughly the $25K threshold in the US, freeing those ‘un’-wealthy citizens to keep their hard-earned private property. On the dark side, 28% have no confidence they will have enough money to retire comfortably – the highest level in 23 years.
Americans are living longer and their extended life spans are putting additional strains of pension plans as the percentage of workers who have saved enough for retirement plunged to 66% (from 75% in 2009).
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