Friday, February 27, 2009

Retirees and Soon-to-Be Retirees Net Worth Has Plunged

Not so long ago I came across a report by the o the Employee Benefit Research Institute that said a startling 59 percent of workers age 55 or older have less than $100,000 in savings and investments, excluding the value of their home, according t Another 18 percent have between $100,000 and $249,999, and only 23 percent have $250,000 or more.

Many people who were looking to retire in the near future are now expecting to work until they are 70, 80, or 90.

It seems that things may be worse that first reported. The serious decline of house prices, the stock market crash and the economic recession (could be upgraded to a depression) have ravaged the wealth, or net worth, of Americans near the traditional retirement age of 65.


Quotes for Retirement:

  • Bought one, got one free — first rung on the achievable goals ladder.
    — T-shirt worn by Mr. Boffo cartoon by Joe Martin
  • All intellectual improvement arises from leisure.
    — Samuel Johnson
  • The wisdom of a learned man cometh by opportunity of leisure: and he that hath little business shall become wise.
    — Bible
Retirement Resources

ERNIE ZELINSKI'S The Money Cafe featured on Launch Your Money Cafe Project:

101 Really Important Things You Already Know, But Keep Forgetting

Best Retirement and Finance Guides