Many Americans Lag in Retirement Savings, But It's Not Too Late to Catch Up

Only 54% of Americans have dedicated retirement savings accounts; median savings vary widely by age bracket
Determining how much you need to save involves calculating expected retirement expenses and sources of income
The 4% rule suggests living on a 4% annual withdrawal from retirement assets
If behind on savings, it's possible to catch up through debt payoff, optimal investments, and extra income
Even those nearing retirement can build savings by downsizing home, tapping home equity, or selling assets