Top 10% richest americans had $274,000US saved for retirement
The 90th percentile family had $274,000 saved, and the 80th percentile family had $116,000. Meanwhile, the median working-age family had only $5,000 saved in 2013.
I’m 51 and with 3 houses owned and paid off, I have 2 to sell for profit. One of them sold for $45,000CAD but there will be capital gains taxes charged. My other house is being put up for sale and it is worth more, so I should hit the 80th percentile family with $116,000. That is still not enough to retire on, but I still have 10 years of compound interest before reaching the age of 61.
The median working-age family had only $5,000 saved in 2013. That means that most Americans and Candians have nothing saved for retirement!
