Reply to Median Retirement Savings of Pre-Retirees is $17,000

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Reply to "Median Retirement Savings of Pre-Retirees is $17,000"

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[quote=Anonymous][quote=Anonymous]I seem to remember that most of these surveys and such only look at retirement savings in a 401K or IRA.  They don't consider social security, pensions, home equity, or other assets.

Also for the typical 40 year old DCUM posters, retirement might look very different in 26 years than it does for people about to retire now.[/quote]
That's true, but remember.....only 20% of people (excluding government) even have pensions, and SS averages something like $1200 a month. As far as home equity, the average is pretty low around the country - something like $150,000 or thereabouts. The fact remains that most people in their 50s are not prepared for retirement.

I foresee a future in which SS is asset-tested. Those with little assets will get a full check, and those of us who have saved diligently for retirement (living below our means to do so ) will in effect be penalized for it. Still, I'd rather have the assets and will keep on building my nest egg.

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