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[quote=Anonymous][quote=Anonymous]So is this data even useful? Sure there are 497,000 millionaires but the whole data is flawed as can only look at individual balances not total balances. For instance I am a not yet retired Boomer who of course had several jobs. So I have a few 401ks. I bet if we added up all 401ks including current jobs and prior jobs and added in spouses 401ks you would find people near retirement have a lot more money.

For instance my brother in law who is 66 has worked at same company since 21 and has a massive 401k.

His wife went back to work part time at 55 and is 61 so her 401K is very small for her age.

In these stats she is way under prepared for retirement It only can count her 401k as no such thing as a joint 401k.

In my case I had two short term jobs in Covid, one for one year, one for two years and have a new job. those three 401ks are tiny for someone my age.

[b]How can it be govt has no clue what people have saved for retirement. Why cant they look it up by SS and combine spouses SS?   [/b]

https://thehill.com/business/4851492-record-number-401k-millionaires/[/quote]

Why on earth would you want the government to do that?  And why would it need to?  [/quote]

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