You’ll Need To Save Up $3 Million If You Ever Want To Retire

lotsacash385 Youll Need To Save Up $3 Million If You Ever Want To Retire

Conventional wisdom used to be that if you wanted to retire, you’d need to save up $1 MILLION.  But with people living longer lives, out-of-control inflation, and the uncertain future of Social Security, that’s no longer the case.

–According to a recent survey, 71% of registered investment advisors don’t think $1 MILLION is enough for the average American family to retire on.  The question then is:  How much will you need?

–Well, for Baby Boomers . . . meaning people between the ages of 43 and 64 . . . 35% of investment advisors recommend saving between $2 MILLION and $3 MILLION.

–For Generation X . . . meaning people between the ages of 27 and 42 . . . nearly HALF of all advisors recommend saving at least $2 MILLION.  And 22% recommend saving $3 MILLION.

–And for Generation Y . . . meaning people between the ages of 18 and 26 . . . 77% of advisors recommend saving at least $2 MILLION.  And 40% recommend saving no less than $3 MILLION for retirement.

–In other words, unless you’re really rich, or you’re really good at saving, you’ll NEVER be able to retire.

Comments

One Comment

  1. Judith says:

    Just thought I’d mention your baby boomer and Gen X ages are incorrect. Gen X is either 44 or 45 for the upper age bracket, depending on whom you talk to. I know people born in 1967 are not baby boomers. Otherwise, interesting info.

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