How Much Each Generation Thinks They'll Need to Save for Retirement
Monday, 22 April 2024, 18:45
Generational Retirement Savings Expectations
Every generation has different outlooks on retirement savings. Younger workers anticipate needing more for retirement due to inflation and changing lifestyles.
Survey Results:
- Baby Boomers: $990,000
- Generation X: $1,560,000
- Millennials: $1,650,000
- Generation Z: $1,630,000
The $22,924 Social Security bonus most retirees overlook can provide a significant boost to retirement income. Personalized retirement planning is essential to account for various expenses and income sources.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.