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re: Here's how much money you should have saved at every age
Posted on 2/24/17 at 8:23 am to Volvagia
Posted on 2/24/17 at 8:23 am to Volvagia
Here's How Much The Average Family Has Saved For Retirement
63% of Americans Don't Have $500 For An Emergency
quote:
Just how much has the average American family saved up? According to the EPI, the mean retirement savings of all families is $95,776.
quote:
But that number doesn't tell the whole story. Since so many families have zero savings and since super-savers can pull up the average, the median savings, or those at the 50th percentile, may be a better gauge. The median for all families in the U.S. is just $5,000, and the median for families with some savings is $60,000.
quote:
Whereas the average savings of a family with members between 32 and 37 is $31,644, the median savings is less than $500. At the other end, the average savings of families close to retirement — ages 56 to 61 — is $163,557. The median is $17,000.
63% of Americans Don't Have $500 For An Emergency
This post was edited on 2/24/17 at 8:24 am
1
Posted on 2/24/17 at 12:56 pm to dabigfella
See above, about keeping up with Jonses. Choosing not to save because of the fun stuff you can buy NOW rather than the potential stuff you can buy later is not the same as not being able to save without degrading quality of life.
And your link supports my assertion, not yours.
To have that abysmal of a savings track, you aren't saving at all. Forget the benchmarks in the OP, put aside 25/week into a roboinvester, and you'll be shocked at how fast it will grow, and how fast it will exceed the averages in your second post.
Are you saying that pretty much everyone will have their social lives severely hampered by spending 25/week less?
And your link supports my assertion, not yours.
To have that abysmal of a savings track, you aren't saving at all. Forget the benchmarks in the OP, put aside 25/week into a roboinvester, and you'll be shocked at how fast it will grow, and how fast it will exceed the averages in your second post.
Are you saying that pretty much everyone will have their social lives severely hampered by spending 25/week less?
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