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Vance Cariaga

More Than 1 in 3 Americans Will Delay Retirement Due to Financial Challenges — Here’s Why

New York Life
Dima Berlin / iStock.com

Saving for retirement is one of the most important financial moves you can make, but also one of the most challenging.

Federal Reserve research found that the average retirement savings for Americans ages 65 to 74 was $200,000 as of 2022, the most recent year data are available. That’s well below the $560,000-plus recommended by Fidelity based on its formula of saving about nine times your annual salary at age 65.

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