Whether you are a Baby Boomer, Millennial, Gen-Xer, or some other generation with a catchy title, it may be helpful to know how your retirement savings stack up to others in your age group. While this by no means takes into consideration your personal situation, it can serve as a guide to see if you are doing enough to plan for your future retirement.
Let me share an article from Investopedia written by Tim Parker on May 25, 2016. It separates out each age group, what financial challenges they may face at that age, and the average retirement savings by age group.
In today’s society, where we have thousands waiting in line for the latest smartphone, and 400,000 pre-orders for an electric car that hasn’t even been built, maybe we have some of our priorities out of whack.
Depending on your age and financial status, saving for retirement may seem like an insurmountable task. But delaying the inevitable only puts you further and further behind. A financial planner may be able to help you create a budget that can start you on a path to a more stable retirement. If you haven’t explored this as an option, there is now better time.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.
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