20% Haven’t Started to Save for Retirement
According to a new Wall Street Journal poll, while 90% of people say they plan to retire, only 80% are saving to do it. The survey also indicates that people are starting to save at a younger age.
While the mean age for beginning retirement planning is 33.3 years old, young people say they are planning for retirement earlier. The median age at which 18- to 34-year-olds begin planning is 23.6; for 35- to 44-year-olds it jumps to 29.1; for ages 45-54 it is 35.6; and for those ages 55 and older, the median is 42.8.
