Is Retirement a Reality Today in America by Melvin Feller MA
Is Retirement a Reality Today in America by Melvin Feller MA Is Retirement a Reality Today in America by Melvin Feller MA The current strategy most Americans use to save and invest for retirement is fundamentally flawed. In order to evaluate the effectiveness of any strategy in an empirical way let’s look at the final results. Then let’s compare them to the results you employed the strategy to achieve. I will go through that very process using two well-known and often quoted studies. First, a 2016 study performed by the Employee Benefit Research institute found that the average Baby Boomer had an average balance of $77,000 in their retirement account at retirement age. The same study performed recently, found that average balance has risen to $127,000 following the bull market of recent years. Second, a 2018 study performed by the US Census found that the average college graduate (undergraduate) earns a little over $2M in their lifetime. Graduates wit...