$1.46 million retirement goal jumps by Quiet.Please
Last Updated: December 5, 2024
The New Magic Number for Retirement: Insights into Savings Targets and Retirement Readiness
The question of how much money one needs to save for a comfortable retirement has been a perennial concern for many Americans. Recent data from a Northwestern Mutual survey suggests that the new "magic number" for retirement savings is $1.46 million, a significant increase from the previous year's figure of $1.27 million. This rising target has sparked discussions about retirement anxiety, the challenges of retirement planning in the era of 401(k) plans, and the retirement readiness of different generations.
The Rise of the Magic Number The Northwestern Mutual survey, which polled 4,588 adults, revealed that the perceived amount needed for a comfortable retirement has been steadily increasing. The current figure of $1.46 million represents a substantial jump from the $1.27 million reported just a year ago. Notably, this magic number is more than $1 million higher than the avera
The question of how much money one needs to save for a comfortable retirement has been a perennial concern for many Americans. Recent data from a Northwestern Mutual survey suggests that the new "magic number" for retirement savings is $1.46 million, a significant increase from the previous year's figure of $1.27 million. This rising target has sparked discussions about retirement anxiety, the challenges of retirement planning in the era of 401(k) plans, and the retirement readiness of different generations.
The Rise of the Magic Number The Northwestern Mutual survey, which polled 4,588 adults, revealed that the perceived amount needed for a comfortable retirement has been steadily increasing. The current figure of $1.46 million represents a substantial jump from the $1.27 million reported just a year ago. Notably, this magic number is more than $1 million higher than the avera
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