$25K is the average amount for retirement savings

CNN: Have less than $25K in savings? Get in line: A new survey finds you’re in good company with colleagues of all ages when it comes to saving for retirement.

Nearly half of all workers saving for retirement have savings that fall short of the $25,000 mark, according to the 2007 Retirement Confidence Survey by the Employee Benefit Research Institute and Matthew Greenwald & Associates.
Predictably, the youngest workers (ages 25-34) dominate this group – 68 percent of them have less than $25,000 earmarked for their later years. But so do half of workers age 35 to 44 and a third of workers age 45 to 55 and over.

Also from EBRI: the press release and links to the report.

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