Core Insights - The article highlights the increasing trend of Americans delaying retirement due to financial concerns, particularly in light of personal circumstances like health issues and insufficient savings [5][6]. Group 1: Personal Financial Situation - The individual in the article, Josh, has only $60,000 saved for retirement at age 50, which is significantly below the average needed for a comfortable retirement [2][7]. - After quitting his job to care for his sick parents, Josh faced penalties from early withdrawals and lost part of his employer's 401(k) contributions, further impacting his savings [3]. Group 2: Retirement Trends - A survey by F&G Annuities & Life indicates that 23% of Americans over 50 have chosen to delay retirement, up from 14% in 2024, primarily due to concerns about savings, inflation, and market volatility [5]. - Another survey by Northwestern Mutual found that 51% of respondents believe their retirement savings could run out, with the average perceived necessary savings for retirement being $1.26 million [6]. Group 3: Average Savings Data - The median retirement savings for Americans is reported to be $87,000, which is significantly lower than the $1.26 million deemed necessary for retirement [7]. - Among Gen-Xers, 52% have saved three times their current annual income or less, indicating a widespread issue of inadequate retirement savings [7].