Nation Briefs 08-19-14 More than a third of Americans have saved nothing for retirement

Published:

CHICAGO (MCT) -- More than a third of Americans have no retirement savings, and millennials feel more financially secure than other age groups despite being the least likely to have socked away any cash for their golden years, a new survey shows.

Bankrate.com, a publisher of personal finance content, found that on average 36 percent of Americans haven't saved any money for retirement.

Generally, the older the age group, the more likely it is that they are saving.

More than two-thirds of 18- to 29-year-olds have saved nothing for retirement, while 14 percent of people 65 and older have put nothing aside for retirement, Bankrate.com found.

But despite their lack of retirement savings, millennials feel more financially secure and optimistic about their personal situations than other age groups.

The study was conducted on behalf of Bankrate.com by Princeton Survey Research Associates International. It did phone interviews with 1,003 U.S. adults, nearly evenly divided between land lines and cell phones. The survey was conducted in English and Spanish over four days earlier this month. The margin of error is plus or minus 3.5 percentage points.

Among people ages 30 to 49, a third have no retirement savings.

Send evacuation orders: Authorities have sent evacuation orders to some 13,000 phone numbers as an out-of-control wildfire bears down on a foothill community near Yosemite National Park in Central California. Sheriff John Anderson issued the evacuation orders late Monday and declared a local state of emergency in Madera County. The 13,000 calls to evacuate included both homes and businesses, and it was not immediately clear how many people were involved, sheriff's spokesman Erica Stuart said.

Accelerates human clinical trials: Researchers at the National Institutes of Health are accelerating human clinical trials for what scientists hope is a promising new vaccine to combat the deadly Ebola virus. Phase 1 of the clinical trials, which were previously not expected to begin until the end of September, will start early next month in response to the Ebola outbreak in West Africa, said Dr. Anthony Fauci, director of the NIH's National Institute of Allergy and Infectious Diseases. Fauci said researchers now hope to finish Phase 1 by the end of November rather than January 2015, as originally planned.

Obama hails elimination: President Barack Obama on Monday said the elimination of Syria's declared chemical weapons stockpile is an important achievement against the spread of dangerous weapons of mass destruction, but warned that Syria's government now must follow through on pledges to destroy its remaining weapons production facilities.

Former Sen. Jeffords dies: Former Vermont U.S. Sen. James Jeffords, who in 2001 tipped control of the Senate when he quit the Republican Party to become an independent, died Monday. He was 80. Jeffords died in Washington, said Diane Derby, a former aide to Jeffords. He had been in declining health, she said. Jeffords had announced in 2005 that he would not seek a fourth term, citing his and his wife's health problems.

Feature keeps an eye on valets: Face it. If you own a luxury or sports car, whenever you hand the keys to a valet, you imagine the car going on a high-speed joyride like the Ferrari in the 1980s cult movie "Ferris Bueller's Day Off." Now, General Motors has an option on the 2015 Chevrolet Corvette that takes those worries away. The latest version of the sports car, due out in September, has a feature that records where the car goes with a camera mounted in the windshield trim.

Assembles high-powered legal team: Republican Texas Gov. Rick Perry says he is fighting a criminal indictment with the law on his side -- not to mention a team of high-powered attorneys with formidable records in big cases. His lead attorney took on BP after the Deepwater Horizon explosion in the Gulf of Mexico. Another argued before the U.S. Supreme Court and won changes to campaign finance laws.

Want to leave your comments?

Sign in or Register to comment.