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Retirement Savings and You - Investopedia
It’s a sad, but true, reality – most entering retirement do not have enough saved for that monumental lifestyle change! Financial advisors say you should have at least 10 times your final annual salary saved for retirement, but precious few American’s accomplish that. Doing so requires starting your “nest egg” savings early in life, and many advisors say that you should have at least $500,000 saved by the time you are 40. But here’s a stark reality: only a small percentage – about 10% – of American’s do.
But that doesn’t spell disaster because there is still time to catch up, as discussed in this Investopedia article by Adam Hayes. Although many factors contribute to accumulating an adequate retirement account, discipline is key. Click here to read the Investopedia article.