2.26 Saving for retirement. Retirement seems a long way off, and we need money now, so saving for retirement is hard. On

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2 26 Saving For Retirement Retirement Seems A Long Way Off And We Need Money Now So Saving For Retirement Is Hard On 1 (105.41 KiB) Viewed 71 times

2.26 Saving for retirement. Retirement seems a long way off, and we need money now, so saving for retirement is hard. Once every three years, the Board of Governors of the Federal Reserve System collects data on household assets and liabilities through the Survey of Consumer Finances (SCF). The most recent such survey was con- ducted in 2010, and the survey results were released to the public in April 2013. The survey presents data on retirement assets, which include defined contribution and Individual Retirement Account IRA) balances, For married households the mean value per household is $123,968, but the median value is just $10,000. For single households, the mean is $33,585 and the median is $0. What explains the differences between the two measures of center both for married and single house holds? What does a median of $0 say about the percent- age of single households with retirement assets?