3 Things 12-7
THING ONE
Where Are You?
Here is some data on median and average household retirement savings by age group compiled by Vanguard:
Ages 65-74
Average $426,000
Median $164,000
Ages 55-64
Average $408,000
Median $134,000
Ages 45-54
Average $254,000
Median $100,000
Ages 34-44
Average $131,000
Median $60,000
Under 35
Average $30,000
Median $13,000
While it might be interesting to know where you are relative to others in your cohort, you shouldn't get overly concerned with that perspective. Instead, consider where you are relative to where you would like to be and get after it. Contact us if you’d like some help.
THING TWO
Long Term Care Question
Seventy percent of people 65 and over will need long-term care at some point according to the Transamerica Center for Retirement Studies Survey. Despite that fact, roughly half of Americans (48% of women and 56% of men) say their long-term care plan is to rely on family and friends.
Is that your plan? Would you like someone to help you think through any potential alternatives?
Thing Three
Just A Thought
“Planning is bringing the future into the present so that you can do something about it now." - Alan Lakein
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