The average American today has $88,400 saved for retirement, says Northwestern Mutual. That's not a ton of money, but that sum also isn't all that alarming because it encompasses savers of all ages.

On the other hand, it's a bit more troubling that the typical baby boomer today only has a $120,300 nest egg. Many boomers are on the cusp of retirement or have already wrapped up their careers. And while $120,300 isn't pocket change, it's not a lot of savings for what could be a 20-year retirement or longer.

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Source Fool.com