In a recent USA Today article, referencing a study done by the Employee Benefits Research Institute, said that:
There’s a substantial gulf between the amount of money Americans have actually saved for retirement and what they might need to last throughout their golden years. Nearly three in five people surveyed in a recent study from the Employee Benefits Research Institute had saved $25,000 or less for their retirement, with more than a quarter having saved less than $1,000. Yet plenty of financial experts think you’ll need $1 million, $2 million, or even more in order to sustain the lifestyle you want for your retirement years.
That means that over 60% of those surveyed had less than $25,000 in their retirement and will need to catch up to get anywhere near the amount that is estimated they’ll need for retirement.
The Catch Up Nomad model is designed specifically to help people that start late get caught up and be ready for retirement.