The dwindling savings by the 40-54 age group can probably be attributed to people having children later in life. I expected them to make up more of the share, especially since they are still in earnings years while a 70+ year old is likely not earning a paycheck.

My takeaway from this is that the power of compounding is real. It is always working for you in the background, but it takes money to make money. The best way to get there is to control the one thing you can - your savings rate.

The best time to plant a tree was yesterday, the second best time is today.