Tag: IRA
Decline reflects surprising drop in 401(k) balances for typical household. In preparation for a recent presentation, I asked for data to document the increasing dependence on 401(k)s as opposed to traditional defined benefit plans. One of the figures included total retirement wealth for households in the middle of the wealth distribution for five different…
If a 60-year-old baby boomer started saving consistently at the beginning of his career back in the 1980s, he would have some $364,000 in his 401(k)s and IRAs today. How much does he actually have? One-fourth of that, according to a new study from the Center for Retirement Research at Boston College (CRR). One obvious…
