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Read more about the article How much does the average 60-year old American have in savings?

How much does the average 60-year old American have in savings?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

The average retirement savings for families aged 56-61 is $163,577. According to the Economic Policy Institute, the 56-61 age group (which can be considered “pre-retirees”) has an average retirement savings…

Continue ReadingHow much does the average 60-year old American have in savings?
Read more about the article What is the average American’s 401(k) balance?

What is the average American’s 401(k) balance?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

The average American’s 401(k) balance is $104,300. Fidelity reports that the average 401(k) balance is $104,300, 13% higher than it was a year ago. This may sound like a lot,…

Continue ReadingWhat is the average American’s 401(k) balance?
Read more about the article What percentage of American workers are saving for retirement?

What percentage of American workers are saving for retirement?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

Only 6 in 10 workers are saving for retirement. A recent survey by the Employee Benefit Research Institute found that only six out of every 10 workers are actively saving…

Continue ReadingWhat percentage of American workers are saving for retirement?
Read more about the article What percentage of Americans expect to work after retiring?

What percentage of Americans expect to work after retiring?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

Only 25% of Americans say they don’t expect to work after retirement. To be fair, many retirees work because they want to. Studies have shown that part-time employment can help…

Continue ReadingWhat percentage of Americans expect to work after retiring?
Read more about the article What percentage of Americans stop working sooner than planned?

What percentage of Americans stop working sooner than planned?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

55% of Americans stop working sooner than planned. Do you plan on working until age 65 or later? You'd be wise to financially prepare to retire a few years earlier.…

Continue ReadingWhat percentage of Americans stop working sooner than planned?
Read more about the article How much of your income is Social Security designed to replace?

How much of your income is Social Security designed to replace?

  • Post author:Egoy Magnaye
  • Post published:February 25, 2019
  • Post category:Uncategorized

 Security is only designed to replace 40% of your income. According to the Social Security Administration, just $4 out of every $10 of the average American worker’s pre-retirement salary will…

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