How Do You Rate?
Do you have a golden nest egg or a merely copper one?
There is a new online calculator from A.G. Edwards that lets you figure out how well you are building wealth vs. the rest of the U.S. public. (Note: You can find this calculator in our "Links" listing under "Nest Egg Score.")
Americans have an average score of 631, a strong "fair" rating based on a system that's similar to scores used by the nation's major credit bureaus. (A 549 or lower is poor, while a 750 and up is considered excellent.) A "fair" score is a little bit better than you might expect, considering the average savings rate, says an A.G. Edwards financial planning specialist.
That's because the scoring system goes beyond the personal savings rate, which measures what Americans make and spend, and factors in housing and investment values, participation in retirement plans, and cost-of-living data. Thanks to rising home values, low interest rates, and a resilient stock market, nest eggs are in decent shape.
The National Nest Egg Score is compiled from a recent Harris Interactive survey of more than 2,000 U.S. adults. Figuring out your own score takes just a few minutes. You'll need to answer 14 questions, including your household net worth, years to retirement, and whether you plan to save or invest this year.
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There is a new online calculator from A.G. Edwards that lets you figure out how well you are building wealth vs. the rest of the U.S. public. (Note: You can find this calculator in our "Links" listing under "Nest Egg Score.")
Americans have an average score of 631, a strong "fair" rating based on a system that's similar to scores used by the nation's major credit bureaus. (A 549 or lower is poor, while a 750 and up is considered excellent.) A "fair" score is a little bit better than you might expect, considering the average savings rate, says an A.G. Edwards financial planning specialist.
That's because the scoring system goes beyond the personal savings rate, which measures what Americans make and spend, and factors in housing and investment values, participation in retirement plans, and cost-of-living data. Thanks to rising home values, low interest rates, and a resilient stock market, nest eggs are in decent shape.
The National Nest Egg Score is compiled from a recent Harris Interactive survey of more than 2,000 U.S. adults. Figuring out your own score takes just a few minutes. You'll need to answer 14 questions, including your household net worth, years to retirement, and whether you plan to save or invest this year.
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posted by Bob Moser at
2:20 PM
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