Thursday, August 22, 2013
Workers in 50s and early 60s: savings rate has plummeted in past year
AARP is reporting that retirement savings are down for people aged 50-64 considerably in just the last year, at least since the beginning of 2012. No doubt, this report will provoke a column by Michelle Singletary. The link is here.
I was actually pretty lucky during my last years at ING-ReliaStar. (I was forced to “retire” by that “Fourth Floor Massacre” in December, 2001.) I got statements from the company every quarter, based on 401(k) accumulations, and they did show the “nest” egg growing. The company froze its pension in 2000 but had a healthy 401(k) full match. ("Freezing" is not the same as "terminating".)
If you are involved in receiving money from an estate, you want to know what you accumulated on your own, first. You want to keep track of your “numbers” with a number of different views, including liquidity.