One of the more common questions we get when we meet with clients is, “How much should I have saved for retirement by age 60?” You’ve probably heard people have different opinions on what this number should look like. While there’s no right or wrong answer to this question, but it is important to have a general idea of how much you should have saved for your goals.
In this video, we are going to dive into an article that studies retirement saving averages based on income. While this data might not reflect the exact numbers that you’ll need to achieve your dreams, we find that it serves as a great reference point. Join us as we look at what this data is telling us and how these recommendations could benefit you.
It is important to remember that our situations and retirement goals are different. Meeting with a financial advisor is key to feeling confident about your retirement plan.
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0:00 – Intro
1:00 – How much money should you have saved for retirement?
2:14 – What this study recommends for retirement savings based on yearly income
3:35 – It’s never too late to start saving for retirement
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