How America Saves

Certain groups with lower savings througout their work lives reach retirement with significantly fewer assets than their peers. Single people, African American and Hispanic households, those with a high school education or less, people with health problems, and lower income households are all vulnerable to lower savings. Even though people save more as they age, age does not make up for low saving patterns. In nearly all economic and demographic groups, there are some people who do not save at all, some who save a little, and some who save a great deal. Taking into consideration the experiences, attitudes, and personal expectations of people nearing or in the early stages of retirement age is important to understanding their saving capacities, patterns, and decisions.