Boomer with $ 100,000 saved? This is how you rank among your peers

[ad_1]

a man wearing a suit and tie

© Terelyuk / Shutterstock.com

If you are a baby boomer with at least $ 100,000 saved, congratulations. This is no small feat.

And if you find yourself in this exclusive camp, chances are your net worth is even higher – in fact, much higher.

According to a recent study by Charles Schwab, the average baby boomer household with at least $ 100,000 in savings actually has a total retirement savings of $ 920,000. This total reflects the retirement savings of each survey participant and, where applicable, their partner.

It’s not the usual blah, blah, blah. Click here to sign up for our free newsletter.

Unsurprisingly, most respondents are confident that their large nests will provide them with enough income to last through retirement. Among those interviewed:

43% think that the money “will take me to the end”
39% – “will take me most of the way”
16% – “will lead me part of the way”
2% – “won’t get me there at all”

The survey included 2,000 Americans aged 55 to 75 with at least $ 100,000 in assets to invest, including their retirement savings.

Apparently, all of that money made these baby boomers into an optimistic bunch. Among survey respondents who had not yet retired, 84% expected a quality of life in retirement to be higher than that of their parents. And 80% expect their retirement to be better than that of their children.

Create the retirement of your dreams

Whether or not you’ve saved $ 100,000 or more, you can still improve your retirement prospects. All you need are the right tools to do it, and Money Talks News can provide them.

To get started, check out “Your Top 5 Retirement Questions, Answers”. It is an introduction to building and maintaining a strong retirement nest egg.

Once you’ve got your feet wet, dive into the depths of the pool by signing up for the Money Talks News Retreat Course. This 14-week boot camp has everything you need to plan for the rest of your life, know you’ll have enough money, and your retirement dreams will come true.

Related: 7 Things To Do Before Claiming Social Security

The course is aimed at people aged 45 or over and can teach you everything from “social security secrets” to planning for your retirement.

To learn more about the course, see The only retirement guide you’ll ever need.

While all of this self-paced training gives you a lot of important information about saving for retirement, some people may be more comfortable partnering with an expert when building a retirement savings plan. . If this sounds like you, stop by the Money Talks News Solution Center to find a trustworthy financial advisor.

Create the retirement of your dreams

Sponsored: Find the right financial advisor