Are we keeping up?

Does it really matter whether your income puts you in the top brackets? Not really. The great equalizer is time. Some folks whose income never amounted to a lot have accomplished some wonderful things by using it wisely. Still, it can be helpful to know how we stack up, so here are some statistics for you. 2004 is the most recent available.

FINANCIAL SNAPSHOT: AGES 50-59
Median household income $60,586
Median net worth $182,300
Percent with home equity 80.70%
Percent with credit card debt 50.30%
Median amount owed on cards $2,700
Percent with traditional pensions 38.10%
Percent with minor children 40.30%
Source: Federal Reserve Survey of Consumer Finances, 2004