Hitting the $1 million retirement savings mark is quite the accomplishment.
But how many really reach that golden number by the time they hang up their boots?
Surprisingly, just about 10% of retirees get there, with the rest lagging behind. Want to know the average retirement nest egg size?
A 2019 survey spilled the beans:
- 65 to 74-year-olds: Around $426,000
- 75 and up: Approximately $357,000
That’s quite far from a million!
And with factors like COVID-19 and inflation, who knows what the next survey in 2023 will show?
Ever wondered about the average retiree’s net worth? Or what contributes to it?
