Retirement

WSJ: Boomers 401K Accounts Fall Short 

According to a report in the Wall Street Journal, the typical household headed by a person aged 60-62 with a 401(k) account has less than one-quarter of the amount necessary to maintain their standard of living in retirement.  The analysis conducted by the Center for Retirement Research at Boston College utilized data compiled by the Federal Reserve. Using estimates of 401(k) balances from the end of 2010, the report reviewed the income those amounts would provide in retirement as compared to estimated income needs in retirement.  As a benchmark, the report used an assumption that retirees would need 85%