Group 1 - The common perception is that $1 million is an optimal retirement savings goal, as it is a significant and easily understandable figure [1][2] - However, for many individuals, $1 million may not be sufficient for a comfortable retirement, especially if savings need to last for 20 years or more [3][4] - The 4% rule suggests that a $1 million nest egg would yield an annual income of $40,000, which may not be adequate for those with higher retirement aspirations or without downsizing their lifestyle [4][6] Group 2 - Healthcare costs in retirement can increase, particularly for those managing chronic conditions, and taxes can further impact the value of retirement savings [5] - It is advisable for individuals to reassess their savings goals, as aiming for $1.5 million instead of $1 million could significantly enhance retirement income and lifestyle [6][7] - An additional $500,000 could provide an extra $20,000 per year at a 4% withdrawal rate, which could cover various expenses such as home maintenance and healthcare [7]

will thank you later.[David Beren]| 2 hours ago## Mamdani's New Budget Spend $42,000 Per Student - How Does That Compare to Texas or Florida?[John Seetoo]| Yesterday## 10 Tony Robbins Quotes That Will Change How You Think About Retirement## Continue Reading## 6 ETFs That Do What SCHD Does — But Better[Javier Simon | Feb 2, 2026 at 8:28 AM EST The Schwab U.S. Dividend Equity ETF (SCHD) has become immensely popular among dividend investors. And it has a lot to…]## 7 Dividend ETFs I'd Buy Today If I Were Retir ...

As a society, we’re constantly told to save, save, save — but that’s not always possible. For myriad reasons, Jennifer James reached age 50 without any retirement savings to speak of.  Like many people, life got in the way of James’ ability to properly prepare for her financial future. For those starting late, the mountain to climb can seem daunting, if not impossible. But James’ story proves that, with focus and determination, it’s never too late to turn things around. 1. Fixing Falling Behind on Retir ...

Key Takeaways Many workers’ retirement balances trail the value of their vehicles. On average, no age group has reached even 25% of common retirement savings targets. Small contribution increases and spending shifts can help close the gap over time. A new analysis from the National Institute on Retirement Security (NIRS) highlights a stark reality: For many Americans, their car is worth more than their retirement savings. The comparison lands because it swaps abstract percentages with something ta ...

But if you’re struggling to get started, there are tools for lowering the bar to get into investing.On an average middle-class income, many workers struggle to fund a retirement plan to begin with, let alone save a higher percentage of their salary than the typical worker.If you’re able to save a larger percentage of your income for retirement, then it may be that you're earning enough to move beyond the middle class.On that front, Americans on the whole have been doing better each year. Fidelity reported t ...

Key Takeaways Many Americans in their mid-60s to early 70s are entering retirement with a mix of savings, Social Security income, and changing spending. Among those with retirement accounts, the median balance was $200,000—the highest of any age group. At this stage of life, financial stability depends on coordinating income, withdrawals, and long-term expenses throughout retirement. How Many People in Their Mid-60s to Early 70s Have Any Retirement Savings People ages 65 to 74 sit at a financial ...

The stock market may have hit record highs in 2025, but for many Americans, it doesn’t feel like prosperity. A new Q4 2025 Quarterly Market Perceptions Study from the Allianz Center for the Future of Retirement shows a clear disconnect between Wall Street and Main Street. Even as markets climb, households are pulling back on long-term savings and bracing for turbulence ahead. Related: U.S. state retirement fund boosts MicroStrategy stake despite stock downgrade Retirement savings take a hit More than ...

If you're going to save for retirement (which you should, since you'll need income to supplement Social Security), you might as well snag some tax breaks along the way. That's why retirement plans like traditional IRAs and 401(k)s are so popular. With a traditional IRA or 401(k), you get to fund your savings on a pre-tax basis, allowing you to pay the IRS less tax each year you make contributions. Plus, investment gains in these accounts are tax-deferred, so you don't have to pay the IRS year after year. ...

Despite what traditional financial advice might dictate, the average retiree isn’t sitting on a million-dollar nest egg. A recent report from the Transamerica Center for Retirement Studies found that only 17% of current retirees have total household savings of $1 million or more, excluding home equity. Here’s how much the average retiree actually has saved, plus where they’re keeping their money. Average Retirement Savings: Just $126K The report found that the estimated median total household savings f ...

One of the reasons people may find saving for retirement difficult is that it's hard to come up with an end goal. If you're trying to buy a $40,000 car, you need to save $40,000. It's pretty simple. But there's no set cost to retirement, so it's hard to get a handle on how much savings you'll actually need. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel bot ...