Anne Tergesen

speaker

4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Social Security Payments Could Be Affected if U.S. Hits Debt Limit · 15 May 2023 podcast

So it's unclear how they would muster the support to do that at the moment. matched

WSJ Your Money Briefing · Getting By on Less Than $1 Million in Retirement Savings · 28 Mar 2023 podcast

Typical families, 401k and IRA investments accounts come to slightly less than half a million.

So the typical balance is about $413,000 on average.

Thanks for having me.

Well, according to some of the sources that I rely on heavily, a typical family's 401k and IRA investments accounts come to slightly less than half a million on average in the years leading up to retirement or for some people in retirement, which is about 55 to 64 years old.

So the typical balance is about $413,000 on average.

Yeah, so there's really nothing magical about a million dollars.

I mean, people have different lifestyles.

People spend more, people spend less.

You know, $1 million can be insufficient for somebody who spends a lot.

It can be more than enough for someone who doesn't spend much.

All things considered, the less that you save, the more at risk you're going to be if a situation comes along that

is like an unforeseen economic shock or a setback in life for example maybe an unforeseen health issue that requires you to spend a lot of money on a home health aid or something it's going to be a much harder blow to absorb the less money that you have to save and I think also people who save less are probably a little bit more at risk to worrying about outliving their money.

I felt like they all have really, really interesting stories.

They have very interesting lives, very fulfilling lives.

And I think that they're all getting by really pretty well.

I mean, I need to emphasize that when we focus on less than a million dollars in savings and we include both 401k, IRA and pension wealth in that savings number.

But we don't include Social Security.

And all these people have Social Security as well.

So that's an additional source of income that people have.

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