Median age, average age I think it comes down to if you haven't planned and Soc. Sec. is your only source of retirement income life in retirement is not going to be fun. This article explains the differance between "mean" & "median". Doesn't look to good to me, I can't imagine what a future cut of 23% will do to people with so little put away for their retirement.

Here's how much the average family has saved for retirement at every age

Kathleen Elkins Fri, Apr 7 8:28 AM PDT .

When it comes to retirement savings, how do you stack up?

According to a report from the Economic Policy Institute (EPI), the mean retirement savings of all working-age families, which the EPI defines as those between 32 and 61 years old, is $95,776.

But that number doesn't tell the whole story. Since so many families have zero savings and since super-savers can pull up the average, the median savings, or those at the 50th percentile, may be a better gauge. The median for all working-age families in the U.S. is just $5,000.

As the charts show, retirement preparedness varies by age. Not surprisingly, younger families have less stashed away. Here's a breakdown of the mean and median retirement savings of U.S. families at every age:

Mean retirement savings of families between 32 and 37: $31,644

Median retirement savings of families between 32 and 37: $480

Mean retirement savings of families between 38 and 43: $67,270

Median retirement savings of families between 38 and 43: $4,200

Mean retirement savings of families between 44 and 49: $81,347

Median retirement savings of families between 44 and 49: $6,200

Mean retirement savings of families between 50 and 55: $124,831

Median retirement savings of families between 50 and 55: $8,000

Mean retirement savings of families between 56 and 61: $163,577

Median retirement savings of families between 56 and 61: $17,000

How big should your nest egg be?

The answer is highly personal, and specific dollar amounts can be arbitrary, but according to retirement-plan provider Fidelity Investments, a good rule of thumb is to have 10 times your final salary in savings if you want to retire by age 67.

Fidelity also suggests a timeline to use in order to get to that magic number:

By 30: Have the equivalent of your salary saved

By 40: Have three times your salary saved

By 50: Have six times your salary saved

By 60: Have eight times your salary saved

By 67: Have 10 times your salary saved

https://www.yahoo.com/finance/news/h...152813382.html