Americans working past age 70½ — an increasing share of the population — would be able to continue to save. Fifty-seven percent of working age Americans have no pension assets, neither an individual retirement account nor participation in a traditional employer plan. And not surprisingly, lower income Americans are more often uncovered. As for those who have pension assets, the typical worker nearing retirement has about $60,000 ensconced in his accounts. But an individual should have about $350,000 saved to have about 80 percent of his working income available to him in retirement, after including Social Security benefits in the calculation.

Source: New York Times June 11, 2019 18:56 UTC