[quote=flyer]That’s good to know that some believe Boomers as a whole are better prepared than they have been in the past, but, imo, those numbers are still dismal for a comfortable retirement long term (depending on how you want to live) and, based on the small percentage of those with a high net worth, (stats reveal only about 8% of US households–of all ages, not just Boomers–have over a million in net worth, excluding primary residence) they are hardly predictive of a huge transfer of wealth among generations across the board.
Granted, as I mentioned before, 10% of us will do extremely well in retirement across all generations, but there is still concern, as a society, about the 90% who won’t.[/quote]
flyer, do you think an individual or couple needs $1M in investable assets (not incl equity in principal residence) in order to retire? And would they need less than $1M if one or both of them had DB pensions?
With a paid-off residence with a $3-$5K annual tax bill and no HOA dues, what do you think is an adequate monthly income for a retired couple in SD county? How about a single retiree? Assume that the oldest member of the household or the single retiree is wishing to retire at 62 years old.
