5 Retirement Lessons I Wish I Knew in My 40s, From a Multimillionaire

Group 1 - A recent survey by Charles Schwab indicates that 57% of U.S. 401(k) plan participants view inflation as a significant barrier to a comfortable retirement [1] - The survey shows a decline in confidence regarding achieving savings goals, with only 34% believing they will meet their targets, down from 43% in 2024 [1] - American employees expect to retire at an average age of 66, estimating they will need $1.6 million saved to last 22 years in retirement [1] Group 2 - Richard Robbins, a millionaire retiree, shares insights on financial preparations for retirement, emphasizing the importance of early financial planning [2][3] - Robbins highlights the need for aggressive investment strategies, especially for those in their 40s with young children, due to significant future expenses [4] - He warns that having a few million dollars may not guarantee financial security in retirement, suggesting the necessity of working with a financial planner to assess investment needs [5]