Employee Benefit Research Institute
There are 50 million 401K accounts with an average balance of just over $60,000, according to the Employee Benefit Research Institute. That’s not enough!
It sounds so good, borrow from yourself, and pay yourself back! When you do the actual calculations it doesn’t work that neatly.
To be eligible for Medicare you need to be 65. The earliest you can collect Social Security is 62 unless you are widowed.
In order to retire comfortably, you have to do some planning.
A recent study found the average 401(k) balance is close to $40,000. That’s not enough!
Money plays a very big role in retirement planning. Will you have enough?