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Retirement Savings Plan – How Do You Compare?

Retirement Savings Plan – How Do You Compare?

It happens all too often. We compare ourselves to other people.

Whether it’s our appearance, talent, wealth or something else, we want to see how we’re doing compared to someone else.

However by participating in these comparisons, it can either make you feel better or worse about your own situation. Depending on who or what you are comparing yourself to.

Retirement savings is one of those things that people are interested in knowing how they compare with others.

So, if you’re really interested and wondering how you compare – the following video from Forbes provides some insight into what people have saved for retirement.

The first thing that you will notice is that the average person has not saved enough. Within each age bracket, less than 30% have accumulated the recommended retirement savings.

The second thing to also realize is that you are not average. So your retirement savings plan is not average either. Your personal plan for how you will live in retirement will dictate what you actually need to fund your retirement.

So like anything that concerns averages, take this information with a grain of salt and develop your own personal retirement plan.

Afterall, the only retirement plan you really need to compare yourself with is against the plan of what you actually will need.

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