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Jacobs & Company, LLP

2161 Palm Beach Lakes Boulevard, Suite #450

West Palm Beach, FL 33409

 

Phone: 561-615-8585

Fax:     561-615-8888

 

Website: www.jacobsandcompanyCPA.com

August 2022

Are You Saving Enough For Retirement?

Are You Saving Enough For Retirement

Here are the average retirement account balances by ages, according to a Survey of Consumer Finances.* This chart clearly demonstrates that most Americans are not saving nearly enough for retirement. Fortunately, you do not have to be average. Working with your financial professional is your best chance of developing a realistic savings strategy that works for you.


AGE GROUP AND THEIR AVERAGE RETIREMENT SAVINGS

  • Under 35: $13,000

  • 35-44: $60,000

  • 45-54: $100,000

  • 55-64: $134,000

  • 65-74: $164,000

  • 75 and up: $83,000


*https://www.federalreserve.gov/econres/scf/dataviz/scf/table/#series:Retirement_Accounts;demographic:agecl;population:all;units:median


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