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Turn Your $50K Salary Into a $1M Retirement Fund GOBankingRates 2 hrs ago © Paul Bradbury / Getty Images Couple sitting in hammock. Ask Americans why they don’t have money set aside for their future and many will answer that saving for retirement isn’t a priority for them. At least, that’s what 40% of respondents in a recent GOBankingRates’ survey said when asked why they didn’t have any retirement savings. There could be plenty of reasons why saving for retirement isn’t key for them, but a big one might be that many people are prioritizing other expenses especially if they need to stretch a small paycheck. The median household income in America is $61,372, according to the latest figures from the U.S. Census Bureau. That means half of all household incomes in the country are lower.

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