Saving for Retirement: How Do You Stack Up?
Ever wonder how you are doing planning for retirement? Kiplinger’s set out to find out for you.
Those are some of the conclusions from a new poll conducted by Kiplinger’s Personal Finance, in partnership with the financial firm Personal Capital. We surveyed a national sampling of investors between the ages of 35 and 64, equally divided between men and women, who had made at least one investment transaction in the past year. The poll was conducted in November 2018.
Income and assets for the respondents track national averages for U.S. retirement savers. The median household income is $93,760, and the median household net worth (excluding primary residence) is $420,860. The market value of their primary residence is $297,040. About half say they will collect a pension in retirement. (Note: Figures are medians unless otherwise indicated.) See how your efforts to save for retirement compare:
EMPLOYED FULL TIME (35 OR MORE HOURS PER WEEK): 74%
OWN THEIR OWN HOME: 89%
MEDIAN MARKET VALUE OF PRIMARY RESIDENCE: $297,040
MEDIAN APPROXIMATE VALUE OF EQUITY IN PRIMARY RESIDENCE: $219,640
MEDIAN HOUSEHOLD NET WORTH EXCLUDING PRIMARY RESIDENCE: $420,860
MEDIAN HOUSEHOLD INCOME: $93,760
Editor’s Note: This is an expanded version of the How Americans Are Saving article that appears in the February 2019 issue of Kiplinger’s Personal Finance.
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