Sunday, August 26, 2012 - 9:17 AM

Almost Half Of Americans Die With Virtually No Savings

If a newly released report is any indication, most children shouldn't expect a big inheritance from their parents. A new working paper from the National Bureau of Economic Research finds that 46 percent of Americans die with less than $10,000 in financial assets.

The study, which tracked senior citizens from 1993-2008, grouped seniors by their marital status to examine the differences between these categories:

Always single
Married at the start of retirement, but single by death
Married until death

Were They Prepared for Retirement? Financial Status at Advanced Ages in the HRS and AHEAD Cohorts

Shorebreak1,439 posts since
Apr 6, 2010
Rep Points: 6,151

1. Sunday, August 26, 2012 - 4:13 PM

In 2008, the younger (65-69) two-person household has a median net worth of $1,015, 317. But this figure seems to include home equity, social security, etc.; the retirement account is only $35,000.

I am clueless about how they come up with that $1M figure, it seems very misleading if they count social security and home equity; which is not really retirement savings from my understanding.

Can someone enlighten me about the real meaning of these tables, what are these figures really saying? We are really filthy rich but we did not realize it??:D

51hh1,139 posts since
Jan 16, 2010
Rep Points: 5,054

2. Sunday, August 26, 2012 - 7:00 PM

RE: 51hh @ 1. Sunday, August 26, 2012 - 4:13 PM

I was wondering the same thing. I didn't realize I was an instant millionaire. LOL!

Shorebreak1,439 posts since
Apr 6, 2010
Rep Points: 6,151