According to a report by Bankrate.com, Boomers are retiring at the worst time in a generation.
The average 401(k) balance came in at $88,600 at the end of the second quarter of this year according to a report released by Fidelity, which represents 12.4 million U.S. workers. Younger workers had saved less and older workers more.
Before we begin our series this week on members of the Over the Hill Gang, we should establish just who is over the hill.
The average 401(k) balance came in at $80,600 at the end of the second quarter of this year (2013) according to a report released by Fidelity, which represents 12.4 million U.S. workers.
It usually takes a life event to push an individual into hiring a financial planner.
You really want to start your retirement off debt free.
Some experts believe you are going to need a million dollars saved for a comfortable retirement.
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!
You cannot pick up a magazine or newspaper today without a reference to Boomers needing to postpone their retirement because of the economy.
A recent study found the average 401(k) balance is close to $40,000. That’s not enough!