[Moneyguy1]

One fund I have is run by Hartford. Every three months they send a little newsletter along with their quarterly report. This is part of said newslatter:

Do You Measure Up?

Have you ever wondered how you compare financially to your neighbors and your friends?
Results from a recent study show where most Americans stand in terms of income, net worth, homeownership, and debt. Take a look at how close you come to the "norm".

AGES 25-34: Investors in ths age bracket are typically launching their careers, starting families, and looking toward home ownership. Median income is $45,000, and only 39% own their own home.They typically carry credit-card debt of $3,700. Although investors in this age bracket generally aren't focused on retirement, this may be the best time to begin saving because the investments will have more years to accumulate earnings.

AGES 35-44: This group of investors feel that they are in the financial "hot seat." Nearly 70% own homes and many support young families, so expenses typically rise. Median home debt is $80,000, but net income is about $55,000. Net worth approaches $95,000, and one million people in this bracket are millionaires.

AGES 45-64: These investors are generally in a position to make the most of their wealth-reducing debt and looking toward retirement. Median net worth is about $163,000 for those aged 45-54, but it jumps to $217,500 for those aged 55-64. Home debt also declines to $55,000 for people in their late 50s and early 60s, down from $75,000 for those in their late 40s and early 50s. Median income for those aged 45-54 is $67,500 and 76% of those individuals own their home.

AGES 65+: Retires Americans have a median net worth of $199,500. Their average income is $32,500, 44% of which comes from Social Security, followed by 27% from retirement and 10% from other savings. Retirees typically spend 11% of income on health-care expenses and donate about $1,700 a year to charity.

Just because "most people" fall into a certain category doesn't mean its the best place to be. The figures below illustrate the median amount Americans have saved in their employer-sponsored retirement accounts. These amounts fall well below what most people will need in order to retire comfortable>


AGE 25-34 $12,067
AGE 35-44 $32,026
AGE 45-54 $44,829

end of article

Comment...Anyone ever figure how much you will need to retire and how you are going to amass that amount? (hint...it would take one million dollars invested at 5% to provide $50,000 per annum without touching the principal)