2007-03-26 10:09:11 · 2 answers · asked by just_blaze707 1 in Business & Finance ➔ Personal Finance
Average payout of Social Security benefits in retirement last year was about $14,000, which was equal to about 42% of the earnings of the average worker at retirement.
Company pension programs are quickly disappearing, and you probably wouldn't want to try to live off just Social Security, even if it's still around when you retire. Hopefully, you're saving enough in your own IRA/401k retirement accounts to make a difference - good luck to you.
2007-03-26 10:49:21 · answer #1 · answered by Marko 6 · 0⤊ 0⤋
If you are trying to figure out your magic number (How much do I need to save for retirement?) I suggest you download the 40-year investment calculator at the URL below. You enter your age, current investment level, annual additions, ROI, and an inflation rate and it tells you how much spending power you will have based on the info you entered.
Be blessed,
2007-03-26 12:22:02 · answer #2 · answered by Ethan 3 · 0⤊ 0⤋