http://money.cnn.com/2006/03/01/reti...mmit/index.htm
 Quote:
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According to research from Fidelity Investments, Baby Boomers only have enough in savings and other income sources to replace 59 percent of their pre-retirement income. Of those with 401(k) accounts, the average account balance is just $80,000, and many typically save just $2,750 a year toward retirement.
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I don't get it...if the average account balance is a measely $80K, how can boomers have enough to replace 59% of their pre-retirement income?...I don't think anyone really has any idea what kind of shape boomers are in financially...so many conflicting articles...59% of pre-retirement income doesn't sound so bad to me...80K as an average balance is downright scary.
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