Money, Explained: Retirement Flashcards
Do some people not save for retirement?
Around 55% of Americans say they’re behind on saving for retirement, a recent Bankrate survey found. In many ways, that makes sense. A comfortable retirement can seem like a hopeless goal when you look at commonly recommended savings guidelines.
What percentage of Americans have saved for retirement?
Americans Are Dropping the Ball on Savings
Despite 77% of Americans having retirement plans, many people just don’t have enough saved to actually fund their post-retirement life at the same level as their working years.
How much money do you need for retirement?
The Final Multiple: 10-12 times your annual income at retirement age. If you plan to retire at 67, for instance, and your income is $150,000 per year, then you should have between $1.5 and $1.8 million set aside for retirement.
