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August 5, 2014

Many facing retirement with little saved

  • Ninty percent of households with annual incomes below $25,000 have saved less than $10,000.
    Associated Press

    William Kistler views retirement like someone tied to the tracks and watching a train coming. It's looming and threatening, but there's little he can do.

    Kistler, a 63-year-old resident of Golden, Colorado, has been unable to build up a nest egg for himself and his wife with his modest salary at a nonprofit. He has saved little in a 401(k) over the past decade, after spending most of his working life self-employed. That puts him far behind many wealthier Americans approaching retirement.

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