In my last post I commented on our small retirement savings. After reading the comments I decided to do a bit more research.
I read the following statistics in different places on the web:
* The average 45-54 year old has less than $25,000 saved for retirement.
* 53% of people 45-54 have 50,000 or less saved (29% have less than $10,000 saved)
* Baby boomers between 41 and 54 have retirement savings of $30,000 (this must have been an older article - if the baby boom cuts off in 1965, the youngest of this group would be 43 now)
Wow. If all this is true we are in better shape. . . well, than average.
Does anyone know where to get accurate statistics? One website I read said that that particular organization had surveyed 1000 people. That doesn't seem like a very representative sample.
$50,000 or less - Is that all?
March 31st, 2009 at 06:34 pm
March 31st, 2009 at 09:06 pm 1238529964
March 31st, 2009 at 10:18 pm 1238534326
Yes, folks are in deep trouble when it comes to retirement. I don't know what is going to happen in 10-20 years when all the boomers are retiring.
March 31st, 2009 at 11:40 pm 1238539254
April 2nd, 2009 at 02:10 pm 1238677818
Hmm. Scary, considering how ridiculously small that amount is, and to be at that age too....