Any 50yo+ with retirement savings less than $2million?
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Anonymous
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Are you serious? When I turn 50 I doubt I'll have cracked $200,000 in savings. And I rent. Can't afford to own.
And you know what? Compared to most Americans I'm doing GREAT, because I have no debt. |
Anonymous
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Federal reserve says the average is about $200k saved in all accounts before retirement. Median is much lower.
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Anonymous
| We are 52 and 55 and have about 1.7 total. |
Anonymous
1 person or combined? any pension? Secured job ? |
Anonymous
My guess is it’s actually more like 97% |
Anonymous
| I’m 61 and a single parent ( although DD is a young adult now) with less than $1 million and it is what it is. No pension either. |
Anonymous
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Ofcourse less than 2 million, though not 50 yet.
From age 18 to 30 I was an illegal immigrant waiting on tables/tending bar. I couldn't really have a job that offered benefits or retirement. I was lucky to even have a job as I was constantly reminded. Several employers never paid minimum required by law and/or the $2.77 an hour. Shows well in my SS statement. For years I couldn't go to school, couldn't buy property, couldn't invest. I could only see the opportunities passing by.The only thing I could do was to build my credit as I had my SS since 1996 when I arrived here. At 30 I got my residency and started college right away. I also bought a condo, and a farm abroad with mortgages ofcourse. I was going to college and had a kid. An economic downturn and divorce followed shortly after. My ex never worked and the marriage was short. Nothing to split, just shared the kid. I had two jobs during economic downturn that cost me more to go to work than to stay home. From 35-45 I simply continued to work in service industry, but once again, not a single benefit offered besides food, and definitely no retirement. Sold the two properties several years ago and put the money into market. Nearing one million ca 5 years later. I'm not 50 yet, but should definitely double the money in 5 to 7 years. Studied finance in college, but never worked using it because second kid followed as I graduated. Still in service industry part time as I'm not looking to make a career change that late in life. Enjoying managing my portfolio nowadays. Still no retirement besides a fairly small Roth. I will trade inside of the Roth, but it's nothing compared to my investment account. Not really worried about taxes as I make so little. I think I'm allergic to 401k and definitely to match. |
Anonymous
| As apps have said, thats most people. |
Anonymous
| This is hilarious. I'm nowhere saved close to this at all. I'm 53. |
Anonymous
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I’m 48 and have $1.1 million. I doubt it’s going to double in the next 18 months.
Not worried about it though. I’ll also have a pension of $75k a year. |
Anonymous
| 51 and 52 with combined of $1.2 million. |
Anonymous
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single person, $750k saved plus other assets (land, houses). My net worth is probably about $1mil.
I think I might retire anyway and just be poor. Life is too short for this sh*t. - worked 12 hours today |
Anonymous
Nah. Go somewhere peaceful and beautiful and relaxing. You won’t find any of those in the DC metro area. |
Anonymous
| 54 and 52. 1.8M between us. However we will be working for the next 12-15 years unless health issues make that difficult or impossible. |
Anonymous
ageism has kicked in for my 59 yr old DH. Luckily, we have a combined $2.6 in retirement savings alone. |