Fun, yet Scary, Facts About Retirement

Did you know that most people are NOT prepared for retirement? Even with all the articles, news stories, warnings from your uncle, and friends talking about it over lunch, most people still ignore it. Until they are in their 50s.

Don't be that person. Many people often think that it's too late to save for retirement. But it's never

"too late." You just might have to be more aggressive in your planning and saving.

Facts about retirement savings by age:

• In your 20s: Saving just $200/month can grow to over $500,000+ by retirement (thanks to compound growth).

• In your 30s: The average 401(k) balance is roughly $25K–$100K, but many are behind where experts suggest.

• In your 40s: Only about 1 in 3 Americans has $100K+ saved for retirement.

• In your 50s: Catch-up contributions allow you to save extra each year—but many still have less than 2x their salary saved.

• In your 60s: The average retirement savings is around $200K–$300K, far below what’s often recommended.

  
  

Facts about retirement saving by demographics:

• Women typically retire with 30% less savings than men (longer life expectancy + wage gap factors).

• Only about 55–60% of workers participate in a workplace retirement plan.

• Gen Z is starting earlier than previous generations—but often saving smaller amounts.

  
  

Facts about Social Security:

• The average monthly benefit in the U.S. is around $1,800–$2,000.

• For most retirees, Social Security Administration benefits replace only about 40% of pre-retirement income.

Facts about how much to save:

• Financial experts often suggest needing $1M–$1.5M+ for a comfortable retirement

• But the typical retiree has closer to ~$200K