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Retirement Account Balances: Even The Highest Earners Don't Have Enough

Monday, March 3, 2014 - 12:24 PM
"New Schwartz Center for Economic Policy Analysis (SCEPA) research documents that, despite the growing tax breaks and intensive advertising campaigns for 401(k) and IRA retirement accounts, Americans nearing retirement are more likely than previously expected to experience downward mobility in their golden years. Specifically, people ages 50 to 64 - 58 million in 2010 - will likely not have enough retirement assets to maintain their standard of living when they reach their mid-sixties." 

Retirement Account Balances by Income: Even the Highest Earners Don't Have Enough
3
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,208
1. Monday, March 3, 2014 - 12:42 PM
Good information. 

The balance sounds too low.  For example, most people (in that age group) in my company have saved much more than the stated statistics.  So I am not sure what/who are the sampling space which this survey is based on.    
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
2. Monday, March 3, 2014 - 1:11 PM
The last page of the fact sheet shows the source for the data:

Fact Sheet Retirement Balances july 2012 revised FINAL.pdf - Google Drive
2
ShorebreakShorebreak2,621 posts since
Apr 6, 2010
Rep Points: 14,208
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