Years of government policies which punish saving, investing and working have taken their toll.
USA Today reports that 69% of adults have less than $1,000 in the bank, and 34% said they actually don’t have any savings at all.
And a study by the National Bureau of Economic Research found that almost half of Americans die nearly broke. That number climbs to 57% among retirees who are single.
Only 37% of seniors 65 and older claimed to have $1,000 or more in the bank. See here.
