Nearly one-third, 28%, of people have nothing saved for retirement, a GOBankingRates survey of 1,000 adults found.

While this may be shocking to the general public, investing experts aren’t surprised.

“The statistic that 30% of Americans have $0 saved for retirement is alarming, but not surprising,” says retirement planning adviser Mike Kojonen of Principal Preservation Services in Minneapolis. “Through countless consultations, I’ve observed a prevalent lack of awareness about the cost of retirement and a significant underestimation of how much needs to be saved.”

Ten percent have just $50,000 to $100,000 stashed away for retirement, and 33% have less than $50,000.

The lack of preparation is surprising, given the fact that 80% of the population thinks it takes a bundle of cash to be able to afford to retire. Twenty-five percent think they can retire on less than $500,000, and another 25% think it’ll cost between $500,000 and $1 million.

Thirty percent think retirement will cost several million.

Why are so many people ill-prepared for retirement?

Not every workplace offers a 401(k) or other retirement savings plan. About 69 million workers, or 56% of the nation's workforce, are not offered a retirement plan at their job, according to the Economic Innovation Group.

Even when they are lucky enough to be offered a 401(k) plan, 39% don’t participate, according to the GOBankingRates survey. If they do contribute, it’s hardly enough; 13% contributes 1% to 3% of their salary, and 13% contributes 4% to 6%.

Retirement planners today recommend saving 10% to 15% of your salary. They’re also big proponents of financial literacy — at schools and employers alike.

The dismal retirement outlook for so many “highlights a widespread financial literacy gap and underscores many challenges in balancing immediate financial needs with long-term savings goals,” says Edward Piazza, president of Titan Funding in Boca Raton, Florida.

Kojonen agrees: “Starting the conversation about retirement as early as possible is crucial. To avoid a bleak late-life outcome, I advocate for increased financial literacy efforts and early intervention. Education on the basics of budgeting, the magic of compound interest, and the significance of starting to save early could shift the current retirement readiness landscape.”

People also need to take ownership of their future, Piazza adds. “Exploring IRAs or Roth IRAs could be beneficial for those without access to employer-sponsored retirement plans,” he says.