Published by
The Street
The Street
By Samanda Dorger Is $500,000 enough for retirement? It depends on how much you spend, and that depends a lot on where you live. Saving for retirement isn’t easy, and it’s tough to know how much you’ll need. The average American has a net worth of $79,952, according to a 2021 report by Credit Suisse. Advisers often recommend that by age 65 you should have between eight times and 11 times your desired income in retirement savings. So, if you make $50,000 a year, you’ll need around $500,000. If that seems like a daunting task, you’re not alone. Some 75% of Americans fear they can not save enough…
Share this Story
