Hi Greg, great video! Question - I'm in my early 50s. For 401k amounts, I’ve rolled mine over a few times into my IRAs over the years, so for the balance of 45-54, just going by my current 401k balance doesn’t account for priorly rolled over to IRA ones. Should I include the IRA + current 401K to compare to median 45-54 year olds? For example, if I started a new job tomorrow, my 401K balance would be zero for the first 30 days at least. Does this assume a professional worker never changes jobs for 50 years?
Great question that gets to the heart of statistics and how they can be misleading. Let me see if I can find out more about how the median figures were derived.
Thank you for commenting. Yes it was actually shocking to me. Especially when you get to the 30+ figures. Maybe we need a system that automatically opts people in and then there is friction to opt out of regular saving and investing. And a lot of folks don’t understand saving will never be enough with inflation. Anyway, thank you for watching.
