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Policy experts often point to such figures to underscore the looming retirement security crisis, and proposals have been flying this year from Republicans and Democrats alike for ways to encourage people to sock away more money.
Just one problem: Middle- and lower-income households often do not earn enough to save meaningful amounts due to decades of stagnant wage growth, job insecurity and the rising costs of housing and healthcare.
Only high-income households have managed to build significant savings, and the Center for Retirement Research at Boston College says 52 percent of today's working-age households face the shock of declining living standards in retirement.
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In other words, income inequality is translating into retirement inequality.
Here is a better option: Expand Social Security benefits to help people who need it most.
Here is an even better option: Stay out of my pockets.