>
> The median is exactly x dollars.... That is the whole point of looking
> at medians instead of arithmetic averages. By definition 50% of the
> population is above median.
>
> -raghu.
>
>
Then it means that 1/2 of Americans that DO have retirement funds have a
median of $35,000.
If so, it still means squat.
$35,000 is not an insignificant sum. It is of course too meagre to support someone's retirement. However note that the $35000 figure includes younger workers, and these younger workers will certainly accumulate a lot more by the time they retire. The $35000 figure is probably also understated because of older people who have been withdrawing from their accounts. Perhaps someone more knowledgeable can comment.
So how money does a typical retiree have? The median retirement
account for 55-64 year olds has a value of $75,000, considerably
greater than the overall median of $35,000.
Unfortunately for those in the bottom 60% by income,
the accounts have median worth of only less than $17,000. Once again this figure is understated for the same reasons as above. In any case it is certainly greater than "squat".
-raghu.
