Do we really need $1M in retirement savings? Not even close, one top economist says<\/a><\/p>\n\u201cBiggs disagrees. To prove his point, the economist looked at responses to the federal Survey of Household Economics and Decisionmaking between 2019 and 2022. The survey asked retirement-age Americans, 65 to 74, how well they were managing financially. A majority, roughly 85%, said they were just fine: They were living comfortably, or at least \u2018doing OK.\u2019 Only 15% said they were struggling. The finding matters, Biggs says, because most retirees have much less than $1 million in the bank. In the federal survey, the typical senior who reported a satisfactory retirement had $50,000 to $100,000 in savings.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Do we really need $1M in retirement savings? Not even …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12749],"tags":[9386,655,2472,813,802,6224,773,258,501,2846,2845,714,638,3,617,9263,8585,771,814,2847],"class_list":["post-7547","post","type-post","status-publish","format-standard","hentry","category-tumblr","tag-9-to-5","tag-artist","tag-billionaire","tag-career","tag-ceo","tag-employee","tag-employment","tag-job","tag-lamborghini","tag-lower-class","tag-middle-class","tag-millionaire","tag-money","tag-quote-of-the-day","tag-quotes","tag-retired","tag-retirement","tag-social-security","tag-work","tag-working-class"],"yoast_head":"\n
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