Retiring comfortably is all about numbers. The amount of money in your accounts has to cover the regular expenses — and anticipate the unexpected ones.
To make the math work, there’s a magic number each retiree needs to hit to make retirement work.
Of course, this number is different for everyone, but there is a calculated magic number for the average American. As you might expect, that number has hit a new high this year.
With inflation wreaking havoc, most Americans need much more to retire on than they used to.
A study published by Northwestern Mutual found the amount that Americans believe they need to retire comfortably just reached the highest level on record at $1.46 million.
Let’s think about that number for a minute. Do most older Americans have $1.46 million lying around? This illustrates the big problem with Social Security. Read more about the magic number here.
We believe that a bill we call The Elder Relief Act is the best way to give back to help American seniors finally get the change they need. Learn more here.