American workers expect to retire with just $515,000, roughly half of the million-plus figure financial experts recommend, according to a new report from Clever Real Estate, a St. Louis-based real estate company.
The typical worker currently has just $210,000 set aside, and nearly two-thirds, or 65 percent, know they are already behind.
As a result, 54 percent of working Americans worry they will outlive their savings, and 81 percent are concerned they will not be able to retire when they want to. In fact, nearly one in 10 workers, or 9 percent, do not think they ever will be able to retire.
Many Americans are saving less than they did in previous years. More than one-third of workers, or 38 percent, have reduced their retirement contributions in the past 12 months, including 46 percent of Gen Z and 42 percent of millennials.
Nearly one in five workers, or 18 percent, have never saved for retirement at all, citing high living costs, at 48 percent, and low
