Not necessarily. Those statistics would imply that there is a huge number with little to no savings at all which is what the article speaks to. Medians will mov

Not necessarily. Those statistics would imply that there is a huge number with little to no savings at all which is what the article speaks to. Medians will move towards zero more quickly than means when as more zeros are added to the data set. A 32 year old has been working for about 10 years. S&P500 has been growing at 10.5% with dividends reinvested for the last 10 years. That means about $3500/yr in 401k contributions would get you to the average account balance. Take into account employer matches and that's honestly not as much as you expect it to be. Traditional wisdom is to put away 10% and employers have started to implement the auto-incrementing auto-enrollment features into their 401k plans that Richard Thaler has been promoting for the last several years.