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How Do You Measure Up Financially?
By DaveM | March 2, 2005
Find out how your savings and retirement plan stacks up according to the 2004 Retirement Confidence Survey, conducted by the Employee Benefit Research Institute and the American Savings Council. The survey found that those in the 25-34 age group are doing a poor job overall of saving, with 64 percent having saved less than $25,000. Just 7 percent have saved between $50,000 and $99,999. And those in other age groups are not doing much better.
At 36 years old, I guess I’m fortunate to be in the 7% that have been saving for the future. Well, “fortunate” isn’t the right word… My wife and I have been very disciplined and have done a lot of planning to make sure we can retire early.
Read this article to see how you are doing and see what you can do to improve the situation.
SIDENOTE: You can view the actual results of the 2004 Retirement Confidence Survey here. Very interesting stuff!