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Started By
Message
re: The Average Retirement Savings By Age
Posted on 4/30/26 at 12:09 pm to Tifway419
Posted on 4/30/26 at 12:09 pm to Tifway419
quote:
90% of the time though, I don’t know if they’re talking about individual amounts or joint with a spouse. I assume individual, but could be wrong.
It is not clear to me but it references “household” in one paragraph that discusses trends (not necessarily the data table).
I assumed individual when reading article.
1
Posted on 4/30/26 at 12:12 pm to Everyday Is Saturday
Yep, that happens all the time. Even in YT videos, they’ll say “individual” in one sentence then say “household” in the next.
Posted on 4/30/26 at 12:16 pm to Everyday Is Saturday
Classifying retirement funds as “savings” nullifies this whole thread. If your retirement is in a savings account, you’ve fricked up
Posted on 4/30/26 at 12:19 pm to Everyday Is Saturday
OP checking in here to subtle brag that he’s retired, when democrats will outlaw early retirement by the time the late millennials in this board have a chance to retire
Posted on 4/30/26 at 12:22 pm to Upperdecker
quote:
Classifying retirement funds as “savings” nullifies this whole thread. If your retirement is in a savings account, you’ve fricked up
You call your retirement savings something other than retirement savings? I think you are conflating two things there. Retirement savings does not automatically mean it is in a savings account.
This post was edited on 4/30/26 at 12:31 pm
Posted on 4/30/26 at 12:24 pm to Everyday Is Saturday
Thankfully we’re well ahead of those numbers. We also drive vehicles that are 15 and 14 years old.
I absolutely expect the “live for today only” crowd to incessantly whine about their self-induced predicaments in the years to come.
I absolutely expect the “live for today only” crowd to incessantly whine about their self-induced predicaments in the years to come.
This post was edited on 4/30/26 at 12:26 pm
Posted on 4/30/26 at 12:28 pm to ColoradoAg03
quote:
If not, our son gets it all, which is piece of mind as well.
..served with some fava beans and a nice Chianti, I'd assume
Posted on 4/30/26 at 12:38 pm to Everyday Is Saturday
Averages mean almost nothing in this context.
Median is the more illuminating number. 1 in 5 Americans over the age of 50 have exactly $0 saved for retirement.
Likewise, Top 10% savers have a median of about $900k.
The medians look something like this (probably 2023 or 2024 data):
Under 35: $18,880
35–44: $45,000
45–54: $115,000
55–64: $185,000
65–74: $200,000
75 and older: $130,000
#Workuntilyoudie
Median is the more illuminating number. 1 in 5 Americans over the age of 50 have exactly $0 saved for retirement.
Likewise, Top 10% savers have a median of about $900k.
The medians look something like this (probably 2023 or 2024 data):
Under 35: $18,880
35–44: $45,000
45–54: $115,000
55–64: $185,000
65–74: $200,000
75 and older: $130,000
#Workuntilyoudie
Posted on 4/30/26 at 12:39 pm to GoCrazyAuburn
quote:
Retirement savings does not automatically mean it is in a savings account.
Of course not. But it shows the writer is financially illiterate, and it does point out that there’s still a large part of our population that confuses savings and investments. Tons of people saving when they should be investing
Posted on 4/30/26 at 12:41 pm to Everyday Is Saturday
All these numbers are a joke and pretty much meaningless, just clickbait articles.
Posted on 4/30/26 at 12:44 pm to Y.A. Tittle
quote:
The hell is this supposed to mean?
Sequence of returns risk. Compare 2 folks - 1 born in 1943 and the other in 1948 - now that was a different time, but if they both did exactly the same things at exactly the same point in their lives (and let's assume nothing crazy, revolutionary, just the same identical "common sense, general wisdom" financial steps), both retired at age 65, the cat born in 1943 ate a ration of poo poo because he got clobbered in 2008 - his first year of retirement set him up for long-term disaster. The guy born in 1948 did/is doing just fine.
Posted on 4/30/26 at 12:44 pm to DrrTiger
quote:I am thankful that growing up our family had a lot of financial difficulty because it taught me that financial security was up to me. While it aggravates me that the most productive in our society are the most taken advantage of, I still wouldn't change my position for anyone else's. I also am immune to whiners and those who believe luck is the most significant success factor. It's not.
I absolutely expect the “live for today only” crowd to incessantly whine about their self-induced predicaments in the years to come.
Posted on 4/30/26 at 12:52 pm to DrrTiger
quote:
Thankfully we’re well ahead of those numbers. We also drive vehicles that are 15 and 14 years old. I absolutely expect the “live for today only” crowd to incessantly whine about their self-induced predicaments in the years to come.
I’m in the live for today crowd but way ahead of those numbers.
Posted on 4/30/26 at 1:00 pm to Ace Midnight
Your scenario would seem to require a very rigid adherence to a predetermined formula to play out as you set forth. I’m not saying the 1943 retiree didn’t take some sort of hit, but there were plenty of opportunities for him to bounce back to not put him in anything close to the catastrophic situation you envision.
Posted on 4/30/26 at 1:00 pm to lsuconnman
quote:
Eh, last 25 years have proven retirement savings plans are less about structure and more about being a birthdate lottery.
Que?
Posted on 4/30/26 at 1:18 pm to Y.A. Tittle
quote:
I’m not saying the 1943 retiree didn’t take some sort of hit, but there were plenty of opportunities for him to bounce back to not put him in anything close to the catastrophic situation you envision.
Meh. The first 5 years of requirement are absolutely critical to long-term retirement success. I love ya, but if I have to explain that on the Money Board...
"Bounce back"? How? He's not accumulating anymore. He's not DCA anything. He's selling low with no opportunity to buy back lower and then sell when it goes back up.
Got it?
(ETA: Unless you are a person who considers retirement savings purely discretionary - only used for wants not needs - well, if that is 1943 guy's situation, he STILL got screwed over 1948 by mere coincidence of birth year. He had to wait 3 to 5 years for his wants, while the 1948 guy's plan went off, relatively without a hitch - again, all other things being equal.)
This post was edited on 4/30/26 at 1:21 pm
Posted on 4/30/26 at 1:51 pm to Ace Midnight
I know a guy who has about $200K saved up (according to his brother) and nothing else. He lives in a $1M home and is in his early 60's. He has spent his entire live expecting to live off of his inheritance in retirement. His mom is in good health, and doesn't appear ready to kick the bucket any time soon. So this guy is going to work until his Mom dies, which could be until he is in his mid-70's if she stays healthy.
Hell, he might die before she does...
That's an outlier, but I'm guessing this is not - If you own your own home and have had two incomes and expect a payment of say, $6K from the SSA, you may not need a lot, if you live simply. I have relatives who are in that situation. They have their home, social security, and an emergency fund.
Finally, I see this a lot living in Florida. You have a lot of people who move down her when they retire. A lot of couples living in golf communities and driving Mercedes are living better than they ever have in their life. She was a teacher and he was a cop, up north. They raised there kids in New York and had a 4 BR/2 BA home that they sold for $1M in NY. They move to Florida, buy a $500K home on a golf course down here, and live well off their pensions. The $500K they have left over from the home sales is fun money for golf club membership or travel.
Hell, he might die before she does...
That's an outlier, but I'm guessing this is not - If you own your own home and have had two incomes and expect a payment of say, $6K from the SSA, you may not need a lot, if you live simply. I have relatives who are in that situation. They have their home, social security, and an emergency fund.
Finally, I see this a lot living in Florida. You have a lot of people who move down her when they retire. A lot of couples living in golf communities and driving Mercedes are living better than they ever have in their life. She was a teacher and he was a cop, up north. They raised there kids in New York and had a 4 BR/2 BA home that they sold for $1M in NY. They move to Florida, buy a $500K home on a golf course down here, and live well off their pensions. The $500K they have left over from the home sales is fun money for golf club membership or travel.
Posted on 4/30/26 at 1:59 pm to Upperdecker
quote:
OP checking in here to subtle brag that he’s retired, when democrats will outlaw early retirement by the time the late millennials in this board have a chance to retire
(1+k)^n
Cures many things! Do it.
Posted on 4/30/26 at 1:59 pm to Ace Midnight
quote:
but if they both did exactly the same things at exactly the same point in their lives
This is where the "lottery" thing comes apart in my view.
Posted on 4/30/26 at 2:02 pm to Upperdecker
quote:
Classifying retirement funds as “savings” nullifies this whole thread.
“Retirement” is defined in article. The usual (401k, IRAs, Roth, etc).
Have a read.
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