Average Baby Boomer Retirement Savings

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Average Baby Boomer Retirement Savings

You are probably curious about where you stand with your savings. A website I found has the answers. It is the Motley Fool website.

Less than $50,000                 37%

$50.000-100,000                   13%

$100,000-$200,000                14%

$200,000-$300,000                12%

$300,000-$500,000                  9%

over $500,000                        15%

Only the over $500,000 group has enough to maintain their current standard of living.

Social Security only provides about 39% of needed income .for most who retire.  Married couples receive a combined average of $2,260 dollars from Social Security.

In 2016 according to the Bureau of Labor Statistics retirees spent $44,644.

These statistics tell us that most do not have enough to live comfortably in retirement yet.  What is the answer? The answer is to add other sources of income.

Add Sources of Income

Have you ever thought of having an online business? If so where could you get first class training and help when you need it? One answer is Wealthy Affiliate.

Wealthy Affiliate is a platform to help you build the website of your dreams. It is not a get rich quick scheme.  There is some fun work involved but this is a real solid way to learn how to build a business.  It can help you to bring in extra income every month. That is exactly what most baby boomers need.

Most small businesses (51%) are started by those who are 50 to 88 years old. So do not think you are too old.  Also most businesses started are working from home. The percentage is 69%.  Wealthy Affiliate helps you develop an income from home. There are no large expenses like renting space, hiring employees, etc.

For more information on Wealthy Affiliate click here:


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