Part 2/10:
A reliable source for examining the retirement savings landscape is the Federal Reserve’s Survey of Consumer Finances. This report is published every three years and provides crucial insights into wealth accumulation by age groups. As of the latest data, available for the 55 to 64 age group, the median net worth, which includes all assets less debt, is just under $365,000. This wealth is an important figure, but it is essential to recognize that net worth encompasses not only retirement savings but also home equity and other assets.