Total household retirement savings have increased but what is disconcerting is what people estimate their needs are, and how they arrive at those estimates.(Photo: Getty)
Ten years ago, Lehman Brothers filed for Chapter 11 bankruptcy, an event commonly regarded as the straw that broke the camel's back, sending equity markets and ultimately the economy into a tailspin that resulted in the deepest recession since the Great Depression.
Now, household income is at record highs, wage growth is the fastest in a decade, and average 401(k) and IRA account balances top six figures for the first time on record.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
