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Are You Saving For Retirement?
How Much

New saver | Experienced saver

 
“Hmmm. It seems like a simple question.”


This is the question I hear the most – “How much should I save?” And, it doesn’t have a two-plus-two-equals-four answer, because everyone’s different. So before I weigh in on “how much,” tell me “how long” you’ve been saving.

New saver
Experienced saver

 

 

“Don't be just a statistic.”

The percentage of workers (72 percent) saying they have saved for retirement has returned to 2001-2006 levels after a slight dip in 2007 (66 percent). Forty-nine percent of workers report total savings and investments (not including the value of their primary residence or any defined benefit plans) of less than $50,000. Twenty-two percent of workers and 28 percent of retirees say they have no savings of any kind. * Yet, retirement is more expensive than a house or a college education. It's a long-term goal that requires steady, long-term saving.

Source: Employee Benefits Research Institute, 2008 Retirement Confidence Survey (April 2008)


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