E4. What your retirment account actually looks like

Here we look at actual data put out by your 401K and IRA companies.  We look at what you will Really have to retire on, and what you can do about it.

Dont wait until your about to retire to Actually plan for and make sure you have enough!

 

 

stats:   average retirement savings by age 62

$45,000 by age 62 YO in your IRA

that equals $2,250/year income or

$187.50/ month for 20 years

$91,000 in 401K

http://www.investopedia.com/articles/personal-finance/010616/whats-average-401k-balance-age.asp

that equals $4,550/ Year! or 

$379.16/ month for 20 years!!!!!

adjusted for 4% inflation rate that is:

$150/month IRA

$303.20 month 401k

average contribution to IRA by age 62 in $5,500 in 2015

Even more alarming: That figure is just the mean, and it’s pulled up disproportionately by those with high balances. If we take the median 401(k) balance, we get just $29,603, or just about $1,200 per year in retirement income.

https://www.fool.com/investing/general/2015/11/02/the-average-american-has-this-much-saved-in-a-401k.aspx

reality is that the average person will receive just $1,200 per YEAR from their 401K.   Thats a whopping $100/ month for you to live off of!!!!!!

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