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When did you start 401k and what's your balance
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1101395" data-attributes="member: 12570"><p><strong>How much have people put aside?</strong></p><p>The average balance in all 50 million 401(k) accounts is just over $60,000, according to the Employee Benefit Research Institute. Even people within 10 years of retirement have saved an average of only $78,000, and more than a third of them have less than $25,000. More than half of U.S. workers have no retirement plan at all. With Social Security averaging $14,780 a year for individuals and $22,000 for couples, many Americans will exhaust their savings in just a few years. Since millions of boomers are likely to live into their 70s and 80s, the country is headed toward a major crisis. "It looks like most middle-class Americans will become poor or near-poor retirees," said Teresa Ghilarducci, a retirement specialist at the New School in New York.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1101395, member: 12570"] [B]How much have people put aside?[/B] The average balance in all 50 million 401(k) accounts is just over $60,000, according to the Employee Benefit Research Institute. Even people within 10 years of retirement have saved an average of only $78,000, and more than a third of them have less than $25,000. More than half of U.S. workers have no retirement plan at all. With Social Security averaging $14,780 a year for individuals and $22,000 for couples, many Americans will exhaust their savings in just a few years. Since millions of boomers are likely to live into their 70s and 80s, the country is headed toward a major crisis. "It looks like most middle-class Americans will become poor or near-poor retirees," said Teresa Ghilarducci, a retirement specialist at the New School in New York. [/QUOTE]
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When did you start 401k and what's your balance
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