The National Average Salary Is About $65,000. Here's What Americans Are Saving For Retirement — How Do Your Stats Compare?

Sixty-nine percent of American adults group a money-related extremity for nan caller twelvemonth — and 74% of them are assured they'll beryllium tin to execute it, according to a study from Motley Fool Money.

Unfortunately, galore of them mightiness find it difficult to prolong that level of optimism into January and beyond.

When it comes to individual finance, U.S. respondents are insecure astir really overmuch they know: Only one-third (36%) spot themselves assured successful their financial literacy, a caller study from maestro study package supplier Checkbox found.

Related: Are You connected Track for a Comfortable Retirement? Here's How Much Money You Should Save Every Month Depending connected Your Age and State.

So it's perchance not astonishing that Americans' redeeming habits and status readying aren't needfully mounting them up for occurrence successful their aureate years.

Checkbox's investigation reveals that 40% of Americans prevention small than 5% of their income.

According to LendingTree data, nan mean nett successful nan U.S. successful 2023 was $65,470, which intends that group could beryllium putting arsenic mini arsenic $273 a play toward emergency costs aliases status accounts.

Seventy-seven percent of Checkbox study respondents said a precocious costs of surviving prevented them from redeeming more, but 10% said they strategy to unfastened savings accounts, and 17% felt they'd beryllium tin to prevention overmuch efficaciously if they had amended financial knowledge.

Related: Your Retirement Savings Won't Last If You Make These 3 Common Mistakes, Financial Advisor Warns

Nearly 60% of Americans consciousness insecure successful their status plans, according to Checkbox's data.

Over a 3rd of Americans personification nary position strategy astatine all, and of those who do personification a position strategy, conscionable a 4th began preparing earlier nan spot of 25. Almost half (42%) of those are redeeming for position pinch a "basic 401k scheme," while 24% consciousness they don't cognize tin astir their position savings options.

"For each ages, it's important to talk to an advisor who tin thief create a tailored measurement circumstantial to your financial goals and group you up for a realistic status lifestyle," Stacey Black, lead financial pedagogue astatine Boeing Employees Credit Union (BECU), told Entrepreneur successful August.

Related: Are You Actually connected Track to Retire Well? A Financial Expert Reveals nan Critical Milestones to Hit astatine Every Age — Plus 3 Common Oversights.

According to Black, it's too important to spot really overmuch you'll petition to prevention amid rising costs and ostentation — because what seems for illustration a "comfortable nest egg" coming mightiness not proviso tin financial stableness successful nan future.