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Paula Pant

Americans Are $66 Trillion Short in Retirement Savings

By January 14, 2013

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How big is the gap between the amount Americans have saved for retirement ... and the amount we should have saved for retirement, based on our collective ages and costs-of-living?

$6.6 trillion. That's right. We -- as a society -- are collectively $6.6 trillion short of funds when it comes to planning for our golden years.

That data comes from a July 2012 report by the US Senate Committee on Health, Education, Labor & Pensions. The committee named three reasons why we're falling short in retirement savings:

  • Most employers don't offer pensions anymore.
  • Social Security is limited and usually can't provide for someone's entire cost-of-living.
  • People aren't saving enough.

Be the exception to the rule -- be the person with more than enough saved for retirement. Learn more about retirement savings here.

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