Compared to how much a person needs to retire, it's not much. But getting started is the important part.

Answer: $19,000 median & $49,000 average

Questions:

1. Why do you think it is so important to start saving for retirement at a young age?
2. The average savings is much higher than the median. What does that tell you?
3. When do you think that you will start to save for your retirement?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Visual Capitalist):

"Painting a concerning picture, the median retirement savings for Americans stands at a mere $87,000, a figure far lower than what is needed for a comfortable nest egg.

This savings gap—the amount people have actually saved versus what they believe is needed for retirement—is significantly rising. In fact, a recent survey from Northwestern Mutual reveals that $1.46 million is the ideal savings target for retirement, up from $1.27 million last year."

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Play the arcade game STAX to learn about the benefits of a simple investing strategy (spoiler: it involves index funds!)

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.