Tag: IRA balances

broken piggy bank with bandage standing on some coins

Abstract For most workers, 401(k)/IRA assets represent the main source of retirement savings outside of Social Security.  These accounts can generate significant wealth if workers contribute consistently from a young age, keep their money in their accounts, and minimize their investment fees.  However, most workers have 401(k)/IRA balances at retirement that are substantially below their…

Businesswoman watering a bar graph that is showing an increase with an upward arrow

The Federal Reserve recently released the 2016 Survey of Consumer Finances (SCF), a triennial survey of a nationally representative sample of U.S. households, which collects detailed data on their assets, liabilities, and demo­graphic characteristics.  It is considered the gold standard of information on income and wealth.  Overall, this year’s report, unlike those in 2013 and…