Why Retirement Prospects Are Brighter Than They Seem

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Somewhere along the line, I was told to have saved at least $5k for every year of your life through your 40's, $10k every year of life in your $50's. And, this did NOT include possessions. Now with Obama care, I wonder if that was enough.

C.Ray Sporleder of IN 5:40PM March 19, 2013

It's better news, not good news. First, these are averages - what are the median amounts by age group? Averages will reflect high income savers and are less meaningful. Second, while the averages are higher (and it is a good idea to include IRAs), these are still small numbers. If you are making 50k in your mid to late 50s, I question how far these average amounts will take you into retirement, even with Social Security.

John S of NC 10:47AM June 12, 2012

AARP and United Health Care sold seniors out by supporting Obamacare. Their anticipated windfall overoad the sensibility of it. Now, the social security contribution for individuals has been cut--hopefully it won't affect our long term benefits but the absurdity of this move is very troubling.
This country needs a common sense business man willing to stand for his principles.

Sig Culver of WI 1:57PM June 11, 2012