Your Retirement Budget: Do You Have One?
The answer to that question, for way more than half of the 1000 participants in a Bankrate.com survey, is no. When asked to gauge how much they’d need to have accumulated in order to fund their retirement, the response “I don’t know” was the most popular (61%), while another 8% ducked the question by saying they didn’t plan to retire…ever. But for those who answered the question concretely, the bar was set at $800k for millennials (those with birth years from the early 1980s and the mid-1990s to early 2000s) and $1 million for Gen Xers (birth years in the early-to-mid 1960s to the early 1980s). Check the survey results out here…
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