20. Retirees Have Spending Money
Once you look at the numbers and realize that a vast majority of Americans haven’t saved anything for their retirement, you might start to think that seniors don’t have any spending money.
Not according to the Fed’s Survey of Consumer Finance! The net worth of those aged 55 to 64 is $187,000 while people aged 65 to 74 have a net worth of over $224,000.
This trend of increase continues, too. Seniors over the age of 75 have an average net worth of $265,000! What is yours and what do you think it’ll look like by the time you reach your golden years?
