2007-04-13 10:49:33 · 7 answers · asked by edward g 1 in Business & Finance ➔ Personal Finance
"The median value of the retirement accounts held by households headed by a worker between the ages of 55 and 64 was $55,000 in 2001, the CRS says. To that, Stein adds that just 11% of all Americans have retirement savings of $250,000 or more.
He figures that in order to replace an income of $100,000, most retirees would need savings of $1.5 million, and very few people have that. The median net worth of U.S. households where the head of the household is between 55 and 64 was just $181,500 as of 2001, the CRS reports. No, not everyone is a millionaire. "
This moose is retired ;D
2007-04-13 10:53:32 · answer #1 · answered by Anonymoose 4 · 1⤊ 1⤋
30 is a good age to start thinking retirement financial discounts. My friendly advice is to accomplish a 401K plan in the event that they have it at your technique. attempt to offer a contribution the optimal quantity in protecting with 3 hundred and sixty 5 days in case you will have the means to come back up with the money for to. the fabulous factor approximately 401K is your contribution is the pre-taxed quantity of your paycheck. as quickly as you gain 59 a million/2 (i think) you will have the means to start taking funds out. by that age, you would be earning much less so your tax bracket will probable be much less. you could placed funds into bigger possibility thinking maximum probable 30-3 hundred and sixty 5 days-olds are not retiring every time directly. What takes place in spite of the undeniable fact it rather is your income can variety particularly. yet finally, you will ought to be springing up wealth. you need to think long term and now no longer be fickle can difference your investment everytime some element loses funds. The mutual funds you place funds into are controlled by government. intense possibility ought to be to take a position one hundred% of your 401k in fairly returns. you could distribute your 401K in spite of the undeniable fact that opportunities in top possibility, med possibility and low possibility. As you get in the process retirement, you will have the means to little by little difference all of it to low possibility. in my opinion, i'm in my 40s and that i shelter them in top possibility thinking I also have a financial history. what's superb approximately a 401K is which you purely a superb form of the time can borrow in opposition to it for emergency. The contribution comes out of your paycheck and you do no longer even word it. What starts off off as a each year $5000 contribution can develop and develop. you would be stunned at how speedy you will have the means to get to $one hundred,000 must you supply a contribution the optimal. additionally, your producer could have a earnings-sharing they provide a contribution. solid luck!
2016-12-29 07:58:08 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I've been told for every 10 years you work you should have 1 times your salary. So if you are 30 and you make 75k, you should have 75k, if you are 40 and make 150k you should have 300k, etc...
2007-04-13 10:58:11 · answer #3 · answered by areyoustupid3214 5 · 0⤊ 0⤋
$9.83
That's on Friday...most fat, sloppy, lazy, good for nothing Americans go to McDonald's on Saturday, so they actually have negative retirement savings on Sunday.
2007-04-13 12:16:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I read in a financial magazine that the 'average' is pathetically low...something on the order of 25K.
2007-04-13 10:54:31 · answer #5 · answered by homerunhitter 4 · 0⤊ 0⤋
I've got more than $250,000. Anyone got more?
2007-04-13 10:52:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
less than 50,000 dollars
2007-04-13 10:53:11 · answer #7 · answered by David W 1 · 0⤊ 0⤋