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

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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.

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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.

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Related: 7 Things To Do Before Claiming Social Security

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