SOURCE–The tide might be turning when it comes to retirement savings in America. For the third year in a row, GOBankingRates surveyed adults across the U.S. to find out how much the average person has saved for retirement.

From 2016 to 2017, the percentage of Americans with $0 saved increased. But this year, it dropped — dramatically. Not only has the percentage of adults with nothing saved fallen, but the percentage of those with $300,000 or more in a retirement nest egg has increased.

How Much Does the Average American Have Saved for Retirement?

GOBankingRates polled adults across the U.S. using three Google Consumer Surveys to find out how much the average American has saved for retirement. Each survey targeted a specific age group — millennials, Generation X and baby boomers — and included about 1,000 respondents per group.

Each age group was asked the same question: “By your best estimate, how much money do you have saved for retirement?” Respondents could select one of the following options:

– Less than $10,000
– $10,000 to $49,999
– $50,000 to $99,999
– $100,000 to $199,999
– $200,000 to $299,999
– $300,000 or more

The 2018 Retirement Savings survey found that 42 percent of Americans have less than $10,000 saved. If they don’t boost their savings, they’ll likely retire broke because that’s not enough to cover a year’s worth of expenses. On average, adults 65 and older spend almost $46,000 a year, according to the Bureau of Labor Statistics…..more here