How Do You Compare With Others on the Savings Scale?
The 21st Annual Transamerica Retirement Survey recently noted that the median retirement savings balance for workers of all ages is $93,000. Not bad? Wait…the key words in that sentence are “for workers of all ages,” so before you compare your own situation to that number, be sure you have it in context. If you’re many years away from retirement, and you’re somewhere close to that number, you might be in good shape. But, if you’re on the cusp of “pulling the plug,” it’s a different story. The Motley Fool’s Maurie Backman puts the comparison issue in perspective in a post on The Eagle (Bryan, TX).