Most people (how do you define most is comlicated and variable) are not on target with $1M mark. But currently social security may still provide a $200K cushion, and lots of calculation are not factoring that. So, bottomline, statistics and sampling bias is a bitch! It depends on how you slice and dice the data.
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Yeah, that is a good point. I don't really know the validity of the stuff I have read. I just remember reading it from multiple sources. Mostly MSM, so you kind of have to take it with a grain of salt. I do know that being in my mid 40's I am nowhere near the target mark in the infographic, but it is hard to tell because I also have a pension that I don't factor into my savings. Then like you said add SSI on top of that and I might be closer than I think.
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well you have to add your Pension (very few people have them these days, you are lucky) and SS and probably you are closer. Then you have to add in your crypto :)
Yeah, for sure! I don't honestly know how to figure all of that. I am getting close to retirement, so I should sit down with a financial planner at some point.
Considering more than half the US cant come up with $500 for an emergency bill without selling something and only a fraction of the workers max out their 401K contributions, I would say that few are even on track for the $200K.
I use to know what the retirement balances were but it is awful. I think the medium retirement is like $28K or something. A really horrific number.
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