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re: This Is What Life Without Retirement Savings Looks Like

Posted on 2/22/18 at 9:04 pm to
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
66310 posts
Posted on 2/22/18 at 9:04 pm to
quote:

the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000

Posted by ninthward
Boston, MA
Member since May 2007
20535 posts
Posted on 2/22/18 at 9:11 pm to
quote:

the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000
This frightens me.
Posted by GreatLakesTiger24
One State Solution
Member since May 2012
56078 posts
Posted on 2/22/18 at 9:20 pm to
quote:

the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000
they are so fricking worthless
Posted by The Pirate King
Pangu
Member since May 2014
58071 posts
Posted on 2/23/18 at 8:19 am to
quote:

the median savings in a 401(k) plan for people between the ages of 55 and 64 is currently just $15,000


If you’re 64 with only 15k in 401k savings, you have a serious problem. You’ve either drawn against it, or didn’t contribute at all.

I wonder if this factors in that a lot of 55-64 year olds have pension plans? Technically you couldn’t count their pension as having a lot in 401k savings.
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