Baby Boomers Retirement
Several weeks ago Vanguard released their study on savings in 401k plans they administer. Here's the recent Fidelity research on Baby Boomers retirement plans.
Fidelity Investments reports that Baby Boomers turning 60 years old this year, at a rate of nearly 8,000 per day, surpassed the $100,000 mark with an average balance of $112,000 in their 401k accounts at the end of 2005.
As the 401k industry marks its 25th anniversary this year, more than 32 million participating Boomers have collectively saved over $1.2 trillion in 401k plans, accounting for nearly 60 percent of overall U.S. 401k retirement savings.