{
  "id": 7782998,
  "title": "Here’s how many Americans have $500K saved for retirement — and it’s more than you might think. Are you in this group?",
  "url": "https://urgent.news/2026/09/16/heres-how-many-americans-have-500k-saved-for-retirement-and-its-more",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T11:45:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/articles/many-americans-500k-saved-retirement-114500328.html"
  },
  "original_language": "en",
  "account": "Recent data reveals that millions of Americans have amassed retirement balances of at least $500,000, a sum that could comfortably support a retirement in many regions of the country. According to the Congressional Research Service's analysis of the Federal Reserve's Survey of Consumer Finances, approximately 9.3% of all households in the U.S. possess retirement accounts with this considerable value. However, when focusing solely on Americans nearing or already in retirement age, this figure increases significantly.\n\nThe median retirement account balance for individuals in their 60s, the age at which retirement is typically pursued in the U.S., stands at roughly $566,900 as of August 2026, according to Empower Personal Dashboard data. This indicates that half of all Americans aged 60 and above have already accumulated this substantial amount in their retirement savings.\n\nMoreover, nearly 1 in 5 people, or 21.9%, have at least $1 million in their 401(k) plans, as reported by Empower. This suggests that the millionaire demographic may not be as exclusive as it seems. Nevertheless, if someone is currently in their 50s and has not yet saved $500,000 for retirement, there is no need for panic. There are several strategies to expedite progress towards this goal.\n\nEven for those who find themselves in the group of roughly 1 in 5 Americans over 50 who have no retirement savings, it may seem daunting to begin building a retirement portfolio at this stage. However, it is not necessarily as daunting as it appears. Implementing a few simple steps can facilitate the initiation of a retirement savings plan. One such strategy involves automating finances to invest and save automatically, without the need for constant oversight. Platforms like Acorns simplify this process by linking spending and savings accounts, investing spare change from everyday purchases into a diversified portfolio of ETFs managed by experts from leading investment firms such as Vanguard and BlackRock.\n\nFor example, a $3.25 purchase might be rounded up to $4 and invested as a 75-cent contribution to a smart investment portfolio. This incremental approach allows for the gradual growth of a retirement fund with minimal effort. Additionally, if someone has already saved a modest amount, such as $250,000, they could consider tax-efficient alternative assets like real estate. Companies like Arrived provide an opportunity to invest in rental properties without the traditional burdens associated with being a landlord, such as property management and mortgage responsibilities. With Arrived, one can start with as little as $100 and potentially earn passive income from rental properties.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}