Average retirement account balances of Americans between 50 and 64, by pension plan

The statistic shows the average retirement account balances of Americans between 50 and 64 as of November 2010, by pension plan. On average, Americans from the bottom 25th percentile (0 - 10,800 U.S. dollars) had 281 U.S. dollars in a KEOGH pension plan, a tax deferred pension plan available to self-employed individuals or unincorporated businesses for retirement purposes. The same income group had, on average, 9,160 U.S. dollars in IRA (individual retirement account) pension plans.

Additional info: Retirement saving

It is never too early to start thinking about retirement. Plans and provisions for our twilight years often get put off as we deal with life’s more pressing demands, and with solid economic recovery still far from guaranteed, savings plans have been impacted. Despite this, those who wish to enjoy the golden years of their life should save early and save often. There are a number of saving strategies and a number of possibilities available for retirement saving, and this can seem quite daunting and difficult to figure out at first. The U.S. Department of Labor recommends determining net worth to be a good place to start i.e., the total value of assets minus the value of debts. Having ascertained this, and judging by your age, you can start planning how to get the most out of your retirement savings. You should contemplate where you want to be and how you’re going to get there. If you have age on your side, you can afford to be aggressive and put money into riskier funds. If your fund loses in value, you have time to let it grow. However, if you are getting close to retirement, more intensive and low-risk saving methods are recommended.

Average retirement account balances of Americans between 50 and 64 as of November 2010, by pension plan

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Source

Release date

July 2012

Region

United States

Survey time period

August to November 2010

Number of respondents

52,301 households

Supplementary notes

The source provides no information regarding how exactly the interviews were conducted.
According to the source there were: 14,595,911 Americans that fell into the 0 - 10,800 U.S. dollars income category (bottom 25th percentile), 14,485,878 Americans in the 10,801 - 27,468 U.S. dollars (25-50th percentile), 14,534,878 Americans in the 27,468 - 52,200 U.S. dollars (50-75th percentile) and 14,528,221 Americans in the more than 52,201 U.S. dollars (75-100th percentile).

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