#12: Retirement Savings By Age
Retirement savings may seem daunting. Whether in your 20s or 60s, it’s never too late to start saving for retirement. This infographic needs little explanation. The first number is the median retirement savings, which means it is in the middle of the savings spectrum.
Many people must contribute more significantly for the average (the second number) to be much higher. High earners with a million dollars in retirement savings skew the average retirement number. Most retirement savings occur after age 35. The increase shown here is also due to the power of compounding interest.