What Was the Average Retirement Savings for 2010?

According to www.newsobserver.com, when it comes to retirement, “The problem is we won’t see the ultimate brunt of it until 30 years down the road when it is too late to do something about it” as stated by Diane Oakley, executive director of the National Institute on Retirement Security.

The article continues, stating that "The Federal Reserve says that in 2010 the typical household headed by people between ages 55 and 64 had just $120,000 saved in retirement accounts."

How long does the typical retirement last?  How long will $120,000 last here in Silicon Valley?  When was the last time you took a good look at where you were headed financially?  Can you do it on your own?  Should you do it on your own?

This post was reposted from http://finlit.biz/retirement-2/what-was-the-average-retirement-savings-for-2010/, originally written on February 8th, 2013.