Below are estimated United States retirement savings statistics by age for 2020, from surveys conducted between February 2019 and early 2020. You'll find the average retirement savings by age, along with median, and top 1% of savings. For a fuller accounting of net worth as opposed to only savings for retirement, see our net worth […]
On this page are estimated United States retirement savings for 2020. Statistics are for households headed by adults aged 32-61 at the time of the survey (between February 2019 and early 2020). You'll see average retirement savings, median retirement savings, top 1% retirement savings, and a retirement savings percentile calculator to rank a savings amount […]
In this post, we'll look at early retirees - and some of their extreme early retiree counterparts. How much do they have saved for retirement? How do they differ from the general population? Let's find out using the 2017 Federal Reserve Survey of Household Economics and Decisionmaking. Savings of American Early Retirees The SHED has […]
In a recent post, we argued that 55 years old as the early retirement age cutoff in America. In this post, we'll look at how rare early retirement is in the US. As a preview, 24.29% of current living retirees report retiring before age 56. Number Retiring by Age of Living American Retirees in 2017 […]
The early retirement age, so to speak, is in dispute – specifically, someone needs to answer: what is early retirement? Is it 62? 50? There actually isn't a stock answer (as you probably expected). However, we consider 55 as the cutoff age for early retirement. Here's why. What is the Early Retirement Age? There are […]
In this post we use 2017 Survey of Household Economics and Decisionmaking microdata to see how do Americans pay for retirement, and also look at what is retirement. Hopefully this data is useful for your own retirement planning! How Do Americans Pay For Retirement? A SHED series of questions enumerated retirement funding sources and asked […]
In our average retirement age in the United States piece we briefly discussed retiring for health reasons... then didn't dive deeper. Through the lens of 2017 Survey of Household Economics and Decisionmaking responses, today we'll evaluate retirement reasons for the living retiree population. We'll touch both why do Americans retire as well as craft a […]
The average retirement age in the United States among currently living retirees was 59.88 years old. The median living retiree left work at 62 years old, and the most common age to retire was 62 years old. 18.7% of retirees retired at age 62, and a whopping 63.1% retired between the ages of 57 and […]
One way to evaluate retirement savings is to look at a retirement savings to income multiple. In this post we'll look at a good multiple to target and how Americans are doing. How do you compute a retirement savings to income multiple? Take a household's total retirement savings and divide by typical household income to […]
