How Do You Compare?

Followng are a few highlights from the article referenced and linked below. So how do your finances compare to average Americans including retirees? Check out the article for more details.

It may too late for retirees to change their financial status, but not so for younger Americans. In case you missed it, here are some tips on how to accumulate a retirement nest egg. YES YOU CAN

The most recent Survey of Consumer Finances announced that the average checking balance in 2016 was $10,545 (with the median balance being only $3,400).

Transamerica reports that 62% of retirees have a savings account.

Three out of four retirees own their home. And, home equity accounts for a significant portion of household wealth 

According to Gallop, 55% of all Americans and 58% of those over 65 own stocks. 

And the Pew Research Center, found that the median (stock) holding for those over 65 is $100,000. Most of that investment is in 401(k) accounts, and some of it may be represented by pensions that invest in the stock market.

Source: How Do You Compare? Average Cash, Savings, Home Equity and Other Balances | NewRetirement

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