By JLP | March 29, 2010
As several people pointed out, there was a flaw to the information source in my last post. I went back and found plan balances by age range. The only problem is, these balances are as of the close of 2008. Most likely, these numbers would be significantly higher (or at least I hope they would be).
It’s important to note that these are 401(k) plan balances and not savings and investments, which were used in the last post. Although these numbers are somewhat more optimistic than my last post, they still seem too low to me.
Regardless of which numbers you use or which report you look at, the bottom line is: we need to save more!