Even ‘top earners’ still might not be prepared for retirement


Around 30% of people between the ages of 51 and 56 who earn more than $80,000 a year have less than $200,000 saved for retirement, while 15% of them have more than $700,000.

Just 3% of them have reached the $1,000,000 savings goal suggested by experts.

“Even the top earners don’t have as much as you’d expect them to have,” said Siavash Radpour, a research associate at the New School for Social Research and another author on the study.

To be sure, the situation is much worse for low-income Americans.

Half of retirement wealth in the U.S. is concentrated among workers who earn more than $80,000 a year. Those who earn less than $25,000 a year, in comparison, hold just 1% of that wealth.

And that imbalance is worsening: In 2010, 51% of Americans who made less than $25,000 a year had no retirement savings, up from 45% in 1992.

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