![Piggy Bank Climbing a Stair](https://cdn.statically.io/img/assets1.cbsnewsstatic.com/hub/i/r/2024/06/10/60a7b3b9-e645-465b-b807-2e89ee8318ff/thumbnail/640x360/ec37cde13a2a98ea2e01d53b2010fdf5/gettyimages-1302807465.jpg?v=5501038cbc281520ff9fdc308faab7dc)
Only 1 in 5 workers nearing retirement is financially on track
A new study finds that the median retirement savings of people who are 55 is just $50,000, far from what experts recommend.
Watch CBS News
A new study finds that the median retirement savings of people who are 55 is just $50,000, far from what experts recommend.
Older Gen Xers are turning 59 ½ this month, when they can withdraw retirement assets without a penalty. But many don't have enough saved.
With a relatively low average monthly cost of living and a low crime rate, this little-known town has a lot to offer retirees according to one report.
The U.S. is reaching "peak 65," marking the largest retirement wave in American history. But the financial outlook for many is grim.
Americans are underprepared for retirement, with the average account holding just $88,400 in savings.
BlackRock CEO Larry Fink said that longer life expectancies are "putting the U.S. retirement system under immense strain."
About 1 in 8 workers think they'll retire by age 61. But the reality of saving for decades of expenses is daunting.
America's retirement system has left behind 90% of workers. "We see big gaps with the rich and the poor in terms of who gets to retire," one expert said.
Former "Monty Python" star Eric Idle said people "always assume we're loaded." He added, "I have to work for my living."
How far retirees are able to stretch their savings depends largely on where they choose to settle down, one analysis shows.
Only about 1 in 10 Americans understands the basics of longevity, or how long they'll live in retirement. Can you pass the test?
Over the next few years, the U.S. could see a surge in seniors living in poverty, one retirement expert predicts.
The gap between what people think they'll need for old age and their actual savings is massive, even for those nearing retirement.
Seniors and other recipients of the Social Security program may get a cost-of-living adjustment of 3.1% next year, one forecast says.
Even a brief interruption in plan contributions can affect people's financial goals years down the road, experts say.
Former President Donald Trump will speak with the FBI about the attempted assassination against him at his Pennsylvania rally.
"Everything is burning," one survivor said of the raging Park Fire in California, which has now burned an area bigger than the city of Los Angeles.
Opposition leaders said their tallies showed Edmundo González trouncing Nicolás Maduro in his bid for a third term as Venezuela's president.
At least eight people have been taken to hospitals in northwest England after a stabbing attack in the seaside town of Southport.
President Biden unveiled three proposals to reform the Supreme Court, including term limits, a binding code of conduct and constitutional amendment about presidential immunity.
Novak Djokovic dominated rival Rafael Nadal at the start, then held off a comeback attempt to win 6-1, 6-4 at the Paris Olympics.
Police have arrested a far-left activist in connection with arson attacks that hit France's high-speed rail network hours before the Olympic opening ceremony.
The Food and Drug Administration has approved a blood test intended to detect colorectal cancer, expanding options for screening for the potentially deadly disease.
Organizers say an act during the 2024 Paris Olympics opening ceremony featuring an LGBTQ+ icon flanked by drag artists did not depict "The Last Supper."
On Sunday, thunderstorms caused significant flooding at Dollywood, Dolly Parton's theme park in Tennessee.
Former President Donald Trump will speak with the FBI about the attempted assassination against him at his Pennsylvania rally.
The smell coming from the Louisiana bayou "really turns your stomach," one resident says, as officials race to clean up the oil that officials say stems from a company that touts "safe, reliable crude oil services."
President Biden unveiled three proposals to reform the Supreme Court, including term limits, a binding code of conduct and constitutional amendment about presidential immunity.
Team USA's Lee Kiefer won back-to-back gold medals in foil fencing and her teammate Lauren Scruggs made history by winning silver.
The three-year deal will increase pay by an average of 10% and offer other benefits to workers at a store in the Baltimore suburb of Towson.
TikTok employees used an internal system to gather sensitive data about U.S. users, federal officials said.
Half of all U.S. states have at least one city where a relatively modest residence costs $1 million, according to a new analysis.
Multimillionaires are much happier than the merely well off, suggesting life satisfaction continues to improve the wealthier you are.
"Inside the NBA" host Charles Barkley is decrying the NBA's new broadcast pact, saying Warner Bros. Discovery's TNT "never had a chance."
Former President Donald Trump will speak with the FBI about the attempted assassination against him at his Pennsylvania rally.
President Biden unveiled three proposals to reform the Supreme Court, including term limits, a binding code of conduct and constitutional amendment about presidential immunity.
President Biden is calling on Congress to establish term limits for Supreme Court justices and establish an ethics code for them. He also wants Congress to ratify a constitutional amendment limiting presidential immunity.
More than $15 million has been raised for the Harris campaign by virtual grassroots gatherings over the past week, according to a CBS News analysis.
House Republicans who have supported some gun control initiatives in prior years, have declined to sign on to renewed efforts in 2023 and 2024, Democrats say.
The Food and Drug Administration has approved a blood test intended to detect colorectal cancer, expanding options for screening for the potentially deadly disease.
We asked three Olympic athletes — gymnast Suni Lee, rugby player Steph Rovetti and swimmer Cullen Jones — what they eat in a day. Here's what they said.
Amid a widening listeria outbreak, Boar's Head is recalling all of its liverwurst products sold nationwide, as well as some deli meats.
There may be new hope against dementia after recent research that found the latest shingles vaccine appears to delay the onset of the memory-impairing condition.
The Olympic village beds are "rock solid," according to some athletes on social media. Oh, and there's no AC. A sleep expert explains how these conditions could impact performance.
Runoff from heavy rain in Paris has left the Seine river unsafe for swimming, risking the schedule of 2024 Olympic events slated for the iconic waterway.
Some flights into Bierut suspended as the world waits to see how Israel will respond to a deadly rocket strike in the Golan Heights.
At least eight people have been taken to hospitals in northwest England after a stabbing attack in the seaside town of Southport.
Novak Djokovic dominated rival Rafael Nadal at the start, then held off a comeback attempt to win 6-1, 6-4 at the Paris Olympics.
U.S. water polo captain Maggie Steffens told the Associated Press that her sister-in-law, Lulu Conner, died after "a medical emergency."
Co-founded by George Balanchine in 1948, New York City Ballet is considered one of the best dance companies in the world, and at 75 is catering to an increasingly younger audience.
Co-founded by George Balanchine in 1948, New York City Ballet is considered one of the best dance companies in the world, and the foundation of ballet in America. Correspondent Serena Altschul talks with the company's current leaders Jonathan Stafford and Wendy Whelan, and with legendary dancer Suzanne Farrell and principal ballerina Megan Fairchild, about NYCB and its affiliated School of American Ballet, and how, at 75, the company is catering to an increasingly younger audience.
Ralph Macchio and his "Karate Kid" co-star William Zabka have transferred their young martial arts rivalry into adulthood, playing their characters as grown-ups in the series "Cobra Kai," now in its sixth and final season on Netflix.
When "The Karate Kid" came out in the summer of 1984, the little movie about rival martial arts students, competing against big-budget blockbusters, became one of the highest-grossing films of the year. Ralph Macchio and his co-star William Zabka have since transferred their young rivalry into adulthood, by playing the grown-up Daniel LaRusso and Johnny Lawrence in the series "Cobra Kai," now in its sixth and final season on Netflix. For Macchio it's a return to a character that has both enriched his life and challenged it. Correspondent Lee Cowan reports.
"Sunday Morning" remembers some of the notable figures who left us this week, including Abdul "Duke" Fakir, the last surviving founding member of the Motown group The Four Tops.
Apple has reached its first-ever contract with a retail union, coming to a tentative deal with workers at a store in Maryland.
One week after the global computer outage, Windows systems are nearly fully operational, according to CrowdStrike.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Rep. Jennifer Wexton of Virginia delivered what is believed to be the first speech ever from the House floor using artificial intelligence voice technology. Wexton was diagnosed last year with a rare neurological disorder that robbed her of her ability to speak clearly.
Social media giant Meta is issuing a warning over the increasing number of sextortion scams where fake profiles are used to get people to send nude photographs and then threaten to release them unless victims pay up. On Wednesday, Meta said it has removed 6,300 Instagram accounts of scammers in Nigeria who frequently target adult men in the U.S.
In Canada, a fast-moving fire has ravaged the resort town of Jasper, Alberta. In Northern California, fires have burned 164,000 acres of land. CBS News Sacramento reporter Kayla Moeller joins from Chico, California, with more on the wildfires.
Scientists say a common painkiller used on cattle wiped out India's vultures, resulting in half a million human deaths in just 5 years.
Wildfires are spreading across the western U.S. and Canada. In Northern California, the Park Fire has burned over 71,000 acres, and officials have arrested a 42-year-old man on suspicion of arson for starting the fire. CBS News national correspondent Jonathan Vigliotti has the latest.
The discovery includes "thousands of marble slabs" in "hundreds of different shapes" found in a submerged ancient city.
Multiple wildfires on the West Coast and in Canada have forced thousands of people to evacuate. Crews are fighting flames in California, Oregon, Utah and Idaho. CBS News national correspondent Jonathan Vigliotti reports.
At least eight people have been taken to hospitals in northwest England after a stabbing attack in the seaside town of Southport.
Milos Radonjic was arrested in Italy where authorities say he planned to captain a yacht in an international race.
"48 Hours" obtained exclusive access to the findings of an independent investigation into the unsolved death of the South Carolina teen, whose case was linked to the Murdaughs.
The brutal murder of a former model in her Georgia home in 2008 remains unsolved. Can you help investigators find her killer?
CBS News has learned that the sheriff's deputy charged with murder in the shooting of Sonya Massey worked for six different law enforcement agencies in four years. He was also discharged from the Army in 2016 for misconduct after receiving a DUI. Roxana Saberi reports.
SpaceX put 67 Starlinks into orbit while Boeing carried out successful tests of its Starliner capsule.
Engineers say they're still troubleshooting issues discovered aboard the Boeing Starliner spacecraft that took NASA astronauts Butch Wilmore and Suni Williams into space. They were originally supposed to spend eight days aboard the International Space Station. They've now been up there for almost eight weeks.
NASA and Boeing managers are increasingly confident the Starliner capsule is good to go for re-entry and landing.
The Chandra X-ray observatory was launched on July 23, 1999.
The cosmos is providing a full moon for the 55th anniversary of the first lunar landing this weekend, and plenty of other events honor Neil Armstrong and Buzz Aldrin's giant leap.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
After captivating the world with her drumming skills, Nandi Bushell releases her first book, "The Life Changing Magic of Drumming," and joins "CBS Mornings" to discuss her incredible journey.
July marks Fibroid Awareness Month and Dr. Tara Shirazian from NYU Langone's Center for Fibroid Care joined "CBS Mornings" to discuss the condition and alternative treatments.
In her second Olympics, Ilona Maher is teaming up with brands to show young women they can be both strong and feminine, breaking barriers in the world of rugby.
Michigan Gov. Gretchen Whitmer, who serves as the co-chair of Vice President Kamala Harris' campaign, talks about the search for a vice presidential nominee and where the campaign stands, after President Biden dropped his bid for reelection.
Israel is vowing to retaliate after a rocket attack killed 12 children and teenagers in the Golan Heights over the weekend. Both Israel and the U.S. blame the Hezbollah militant group in Lebanon for the strike, but it denies responsibility.