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Four years from now, the median account balance of a defined contribution plan assets will reach $150,000, up from $100,000 today—a decent-sized nest egg by most standards, but a far cry from the $1 million or more experts say is needed to sustain a retiree’s lifestyle and health care costs.
Thus, one-third of those “retiring” will continue to work and a majority of senior workers will be saving a portion of their earnings for “true old age,” when they actually stop working.
Lee Barney has been the editor of Money Management Executive since 2002 and has been writing about Wall Street since 1993. Previously, at United Medias Wall Street & Technology magazine and … Read full bio
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