mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Occasionally I run across an article that indicates that we Americans (generally baby boomers) are not saviing enough $$ for retirement. I don't recall the exact details but as I recall the article may state that the average American (or boomer) has $49,450 saved up for retirement.
Then I run across an article like this which makes me scratch my head.
Retirement assets hit $14.5 trillion
By Kathie O'Donnell
July 17, 2006
The nation's retirement assets reached a record $14.5 trillion in 2005, marking a 7% increase over the prior year and a 40% jump since 2002, according to research published today by the Investment Company Institute.
Retirement assets now account for more than one-third of household financial assets, up from about 23% in 1985, ICI, the mutual fund industry's national trade association, said.
"Clearly, Americans are focused on saving for retirement as a top priority," said ICI senior economist Sarah Holden, who co-authored the study with ICI senior economist Peter Brady, in a statement.
"Our research continues to indicate that individuals are building retirement nest eggs by using employer-sponsored plans and IRAs."
The move toward individual control of retirement assets continued, ICI said.
The majority of retirement savings, 51%, is now invested in defined-contribution plans and individual retirement accounts, in which investors make the investment choices.
During the past two decades, defined contribution plans and IRAs have grown faster than other retirement accounts.
In 2005, defined contribution and IRA assets grew nearly 9% while other retirement vehicles grew less than 5%, Washington, D.C.-based ICI said.
Mutual funds remained important vehicles for retirement assets, representing about $3.4 trillion of the total.
Mutual funds' share of the retirement market continued to increase given their prevalence in rapidly-growing defined contribution plans and IRAs.
Funds now manage 48% of assets in defined contribution plans and 45% of IRA assets, ICI said.
http://www.investmentnews.com/news.cms?newsId=1544~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
$14,500,000,000,000 is a bunch of savings. I am confused. If few folks are saving for retirement, who the heck is stashing away all of these zeros?
Then I run across an article like this which makes me scratch my head.
Retirement assets hit $14.5 trillion
By Kathie O'Donnell
July 17, 2006
The nation's retirement assets reached a record $14.5 trillion in 2005, marking a 7% increase over the prior year and a 40% jump since 2002, according to research published today by the Investment Company Institute.
Retirement assets now account for more than one-third of household financial assets, up from about 23% in 1985, ICI, the mutual fund industry's national trade association, said.
"Clearly, Americans are focused on saving for retirement as a top priority," said ICI senior economist Sarah Holden, who co-authored the study with ICI senior economist Peter Brady, in a statement.
"Our research continues to indicate that individuals are building retirement nest eggs by using employer-sponsored plans and IRAs."
The move toward individual control of retirement assets continued, ICI said.
The majority of retirement savings, 51%, is now invested in defined-contribution plans and individual retirement accounts, in which investors make the investment choices.
During the past two decades, defined contribution plans and IRAs have grown faster than other retirement accounts.
In 2005, defined contribution and IRA assets grew nearly 9% while other retirement vehicles grew less than 5%, Washington, D.C.-based ICI said.
Mutual funds remained important vehicles for retirement assets, representing about $3.4 trillion of the total.
Mutual funds' share of the retirement market continued to increase given their prevalence in rapidly-growing defined contribution plans and IRAs.
Funds now manage 48% of assets in defined contribution plans and 45% of IRA assets, ICI said.
http://www.investmentnews.com/news.cms?newsId=1544~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
$14,500,000,000,000 is a bunch of savings. I am confused. If few folks are saving for retirement, who the heck is stashing away all of these zeros?