No. of Recommendations: 7
Folks are frelled, financially.A thread on the Fool METaR board starts out with a scare headline from Vanguard about the pittance the average person has in a 401k. Of course, averaging all 401k account holders is irrelevant, because the number that matters is how much they have at retirement.
A reply has the number from the Fed:
The Federal Reserve estimates that the median net worth for 65-74 year olds is $410,000, while the average is $1.8 million. Now that is a number that is relevant. It is also inadequate to live on. A big chunk of that is probably tied up in a home, so there is even less to throw off cash income to live on. And most people don't have a company paid pension and retiree medical to buttress it, anymore. People are frelled, before Trump the Conqueror carries out his threat to cut social programs to help pay for his wars.
here's the thread.
discussion.fool.com - Vanguard study about retirement accountsSteve
