Report from Center for Retirement Research
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A new report from [tag]Boston College[/tag]’s [tag]Center for Retirement Research[/tag] (An Update on Private Pensions) contains this interesting chart of information:
The chart shows the “wealth holdings” of a typical household as they near retirement. [tag]Home equity[/tag] (”primary house”) is the largest wealth holding for most households. But most people probably don’t realize that the value of their [tag]social security[/tag] benefits is worth twice as much.
We’ve noted before the critical importance of maxmizing social security payments by waiting until normal retirement age.
A Few More Related Articles of Interest:
August 26th, 2006 at 3:18 pm
[…] It’s well known that babyboomers are counting on home equity for their retirement security. The run-up in home prices (now ending) is a big comfort to millions of near-retirees who did not have the same success in setting aside other forms of retirement savings. […]