Retirement Wrap-up

Michael Sheehan

Physician's Money Digest, February15 2005, Volume 12, Issue 3

Wall Street Journal

The recentlypublished its "Great American RetirementQuiz." Here are some of the moreinteresting factoids:

61—Average retirement age for anAmerican worker.

58%—Percentage of those aged 65+who consider themselves to be "completelyretired."

10%—Percentage of US workers whoare self-employed.

26%—Percentage of workers aged 55+who have more than $100,000 in theirretirement savings.

42%—Percentage of workers who havedetermined how much they will need inretirement savings.

23%—Percentage of those aged 65+who change residences in retirement.

69%—Percentage of those aged 65+who are overweight.

42%—Percentage of US adults whohave a will.

15%—Percentage of baby boomerswho expect to receive an inheritance.

$88,000—Average 401(k) balance for aperson aged 50 to 59.

17%—Percentage of workers whorebalance their 401(k) accounts at leastonce a year.

$950—Average monthly Social Securitybenefit for retirees.

66%—Percentage of those aged 65+who rely on Social Security to providehalf of their annual income.