US Households Not Saving Enough for Retirement | Torsten Slok's Daily Spark | Apollo Global

Apollo: Chart book (available here) documents the growing retirement crisis.

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Apollo : Ten facts about retirement savings

1. The US population is aging
2. 18% of the US population is 65 years or older. In 2050 it will be 23%.
3. 54 million retired workers receive social security benefits
4. More retirees get money from social security than from a pension
5. $48trn in total US retirement assets
6. $30trn in private and public retirement funds
7. $10trn in 401(k) accounts
8. $5.7trn in 401(k) mutual fund assets
9. The average 401(k) balance is $148,000, and more than half of 401(k) balances are in equities
10. The global population age 65 and over will rise from 800mn today to 1.6bn by 2050

Bottom line: More retirement savings are needed, and better retirement products are needed.