Study: typical wealth at retirement

[Htown Harry]

I came across this estimation of the $361,000 net present value of the assets held by an "average" retiree:

[IMG]file:http://www.urban.org/images/411618_typical_wealth.jpg

"This wealth snapshot highlights the extraordinary importance of Social Security, traditional pensions, and owner-occupied housing for typical near-retiree households today. Together, these assets comprise nearly four-fifths of wealth for middle quintile households on the verge of retirement."

The graph shows individual assets, not household assets. The full report, unfortunately only a page long, is at: http://www.urban.org/UploadedPDF/411...cal_wealth.pdf

Observation / extrapolation: roughly 60% of current retirees will need to get by on a monthly income derived almost exclusively from SS and a relatively small pension.

Question: other than for comparative purposes, is there value in using the author's NPV calculation on a pension and SS to assess one's own financial readiness to retire?

BTW, there's a bunch more interesting policy articles at Urban Institute's Retirement Project at: The Urban Institute | Retirees / Seniors