Older adults in the U.S. are facing a record-high level of income inequality in the U.S., despite consistent economic growth. And the wealth disparity may be due to the differences in the median value of retirement accounts and home equity among higher-and lower-earning households, two new reports show.
This uneven distribution of wealth coupled with shockingly low retirement savings among most households could be a threat to working Americans nearing retirement. Indeed, 59% of working Americans don’t have retirement savings like 401(k)s or Individual Retirement Accounts, according to the NIRS.
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