It’s hard to “buck the trend” if we don’t know what the current trend looks like. To help us, here are some baseline statistics that describe the typical American household.
– As of 2013, those aged 56-61 (who would now – 5 years later – be retiring) had an average retirement account balance of $17,000. – 44% of Americans could not cover a $400 emergency expense. – 28% have zero retirement savings
Is there an explanation? Maybe Americans really love their jobs and simply stay in the work force until they get kicked out between the age of 61-65? Or maybe being dependent on part-time work seems like a great way to provide the retirement of our dreams?