The U.S. ranked a dismal 19th in the 2014 Natixis Global Retirement Index. As it turns out, despite having one of the highest per capita incomes in the world, income inequality and health expenditures are high compared with other countries.
Moreover, the responsibility for financial security is increasingly falling on individuals who have to put money into 401(k) plans or individual retirement accounts.
With that in mind we pulled the "retirement savings checkpoint" from JP Morgan Asset Management's 2014 "Guide to Retirement." This guide suggests that if you're 50 years old and make $100,000 a year, you should have saved $390,000 by now, "assuming you continue annual contributions of 5 percent going forward." This is of course a rough guide, but helpful in keeping you on track for your retirement.
TODAY IN SLATE
Justice Ginsburg’s Crucial Dissent in the Texas Voter ID Case
The Jarring Experience of Watching White Americans Speak Frankly About Race
How Facebook’s New Feature Could Come in Handy During a Disaster
The Most Ingenious Teaching Device Ever Invented
Sprawl, Decadence, and Environmental Ruin in Nevada
You Should Be Able to Sell Your Kidney
Or at least trade it for something.
- Texas Lab Worker on Cruise Tests Negative for Ebola as Dallas Hospital Apologizes
- Police Use Tear Gas to Break Up College Pumpkin Festival Turned Violent
- Racist Rancher Cliven Bundy Challenges Eric Holder in Bizarre Campaign Ad
- Supreme Court Allows Texas Law That Accepts Handgun Permits but not College IDs to Vote
An All-Female Mission to Mars
As a NASA guinea pig, I verified that women would be cheaper to launch than men.