from US News:
""Most retirees have very modest incomes. The median income for people age 65 and older was $27,707 for males and $15,362 for females in 2011. The typical household headed by someone age 65 or older had a median income of $48,538. The median income increased by 2 percent between 2010 and 2011 after adjusting for inflation. Almost 3.6 million elderly people (8.7 percent) lived below the poverty level in 2011.""
46% of Americans have less than $10,000 saved for retirement. (Employment Benefit Research Institute)
40% of baby boomers now plan to work until they die. (AARP)
36% of Americans say they don’t contribute anything at all to their savings. [CNBC]
87% of adults say they are not confident about having money for a comfortable retirement. (Lifehappens.org)
Expected retirement age is up to 67 from age 63. (Zero Hedge)
another thread has got me wondering .....
So many people don't have employers that provide a pension (or an adequate pension).
many of us have to self-fund our retirements with 401ks, IRAs, and other investments.
How much income do you think you'll need when you retire? How much would someone have to have in a 401k to allow for that?
it is somewhat scary because we dont know how long we'll live, what medical issues we'll have, etc.
What are your thoughts?
↧