How Many Older Households Have No Retirement Savings?<\/p>\n
About three in 10 households headed by someone 65 or older\u201411.6 million in all\u2014have no retirement account<\/a> or pension, according to an Investopedia analysis of the Federal Reserve\u2019s 2022 Survey of Consumer Finances, the government\u2019s most detailed inventory of household wealth and the latest available.<\/p>\n The typical household headed by someone 65 or older has about $88,000 in financial assets. But among households with no retirement account or pension, median<\/a> financial holdings are just $2,600.<\/p>\n Looking only at retirement accounts, about 19.6 million older households\u2014roughly 53%\u2014have no money<\/a>. in an IRA, 401(k), or other retirement account.<\/p>\n That doesn\u2019t mean all of them lack retirement resources. A little more than half have a traditional pension<\/a>, while others hold money in brokerage accounts, savings accounts, or certificates of deposit.<\/p>\n Within the 11.6 million households with no retirement account or pension, 7.3 million\u2014about 20% of all older households\u2014also have less than $10,000 in financial assets. About 14% of older households meet all three criteria and also do not own their home, leaving them largely dependent on Social Security<\/a>, working wages, and whatever they have in checking.<\/p>\n Why This Matters To You<\/p>\n Retirement accounts are only part of the picture, but going into retirement without one\u2014or a pension\u2014can leave little cushion beyond Social Security, wages, and other limited assets.<\/p>\n The Number With Little or Nothing Saved Keeps Growing<\/p>\n The share of older households with little or nothing saved<\/a> has barely changed in a quarter century. In 1998, 19.5% had no retirement account, no pension, and less than $10,000 in financial assets. In 2022, the figure was 19.8%.<\/p>\n But the number of households in that group rose sharply, from 4.3 million to 7.3 million\u2014a 71% increase\u2014as the population of older households grew 68% over the same period.<\/p>\n Whether someone is single or partnered also makes a big difference. Among Americans 65 or older, 69% of single women and 65% of single men hold nothing in an IRA, 401(k), or other retirement account, compared with 37% of married or partnered households.<\/p>\n These figures exclude traditional pensions and Social Security, so they do not necessarily mean those households have no retirement income. Still, they show how much less likely single older adults are to have savings in a retirement account.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/09\/e2d1a3f7-02d4-45ce-921e-3de274a5dc4d.png\"\/)
<\/a>Single Older Adults Face a Much Bigger Savings Gap<\/p>\n
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