How many Americans have $0 in retirement savings?

More than a quarter of Americans have not contributed a penny to their retirement savings, according to a recent survey from GoBankingRates. 

The financial services company surveyed more than 1,000 Americans regarding their retirement savings. Twenty-eight percent of respondents said they have $0 set aside for their later years. 

Here's how many Americans have nothing saved for retirement, broken down by age bracket: 

  • 18 to 24: 28% 
  • 25 to 34: 30%
  • 35 to 44: 35%
  • 45 to 54: 33%
  • 55 to 64: 25%

And here's how many have nothing saved in a specific retirement plan: 

  • 18 to 24: 24% 
  • 25 to 34: 35%
  • 35 to 44: 43%
  • 45 to 54: 40%
  • 55 to 64: 41%

Notably, Gen Z has been proactive in saving for retirement, despite being furthest from retirement age. The youngest generation also contributes more of their paycheck in a tax-advantaged retirement account than any other generation: 16% allot 4% to 6% of their incomes to retirement savings, and 8% contribute 7% to 9% of their incomes. 

Americans are generally aware that they are unprepared to retire, according to the survey. About 23% doubt they'll be able to retire at age 65, and another 30% do not anticipate retiring at all.

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