- American workers’ total household retirement savings have grown to $71,000 (estimated median) in 2017, up from $53,000 in 2013. Baby Boomer workers, the generation that is currently entering retirement, have saved $164,000 (estimated median) in all household retirement accounts, up from $103,000 in 2013.
- Men report having an estimated median total household retirement savings of $123,000 compared to just $42,000 among women. Men (38 percent) are almost twice as likely as women (20 percent) to say that they have saved $250,000 or more in total household retirement accounts.
- Lower-income workers are more likely to expect to primarily rely on Social Security in retirement. Workers with a household income of less than $50,000 most frequently cite Social Security as their expected primary source of income in retirement (39 percent).
- Credit card debt is the most common type of household debt for both women (61 percent) and men (58 percent), followed by mortgage (41 percent of women, 44 percent of men), and/or car loan (43 percent of women and 38 percent of men). Only 12 percent of women and 15 percent of men have no household debt.
- The analysis contained in A Compendium of Findings About American Workers was prepared internally by the research team at TCRS. The 25-minute online survey was conducted in English within the U.S. by The Harris Poll on behalf of TCRS between August 9 and October 28, 2017 among a nationally representative sample of 6,372 workers. Potential respondents were targeted based on employment status and company size. Respondents met the following criteria: U.S. residents, age 18 or older, full-time or part-time workers in for-profit companies with five or more employees.
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