One-Quarter of Working Americans Have Zero Retirement Savings

WASHINGTON. Many US households remain financially fragile and insecure about their retirement prospects despite a booming labor market that is raising wages, according to a Federal Reserve survey released on Thursday.

A quarter of the people who work say they have no retirement savings at all, according to the survey, and 44% worry that their savings are not on the right track. Among the youngest workers, from 18 to 29 years old, 42% have nothing reserved, and only 26% believe that they are adequately prepared for retirement.

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