How does your income compare?

household incomeThis is one of the common questions I get from people. They’re trying to benchmark where they stand relative to other people. The problem with this approach is once you know, if doesn’t change anything. You see, the more someone makes income wise, the more they need to save to sustain that Standard of Individual Living. In other words, it is all relative.

This is the point I made in the Blog about trying to keep up with the Joneses.

This overall big picture perspective thus provided … in the spirit of answering the question … here are excellent summaries on

Household Income in the U.S.

Personal Income in the U.S.

Moral of the story: Knowing how you compare is one thing. Knowing how to move ahead is another. The tortoise knows that the true measure of success is being able to sustain a given standard of individual living … not just TO retirement, but also THROUGH retirement … and make work optional .

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

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