Got 10 to 12 Times Your Salary Saved for Retirement?

That’s what they’re saying it will take to have a comfortable retirement–ten to twelve times the salary you’re making. Reporter Martha M. Hamilton says the statistics are woeful when it comes to those who’ve saved enough. But then she goes on to describe a report on the “average” baby boomers’ retirement readiness::

“Another survey showed that workers on the leading edge of the baby boom have made progress in preparing for retirement. MetLife’s Mature Market Institute surveyed 1,000 folks who are turning 62 in 2008 and found that their net worth (excluding home value) averaged $257,800. Their average annual income was about $71,400.”

Wonder who the 1000 people were that MetLife surveyed for this report–and how many of them were single working women (a segment which is–in case we forgot–now 51% of all women in the U.S.).


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