Your retirement balance might look strong on paper, but these 5 hidden factors can determine whether your savings actually last throughout… Continue reading on Investor’s Handbook »...
Your Retirement Balance Tells A Story
Your retirement balance might look strong on paper, but these 5 hidden factors can determine whether your savings actually last throughout retirement
Retirement Clarity
8 min read
19 hours ago
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What average retirement savings really means and why this benchmark can be dangerously misleading.
Why being above average in savings, or even below average, doesn’t always necessarily translate to retirement success or failure.
I’ll tell you the real truth about what above-average or even below-average retirement savings actually mean for your future.
So let’s dig right into it.
What Makes Focusing on Average Retirement Numbers So Dangerous?
Well, cuz these numbers can be very, very misleading.
According to recent Federal Reserve data, the average American aged 55 to 64 has about $537,000 saved, but the median is only $185,000.
And just those two numbers right there are confusing, right? You might have heard that and think, well, what’s the difference between the numbers?
Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of IRACircle. Always consult a certified financial planner or tax advisor before executing retirement account transactions.