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Study finds disconnect between what people think they need for retirement, and what they have saved

When it comes to retirement, how much would it take in order to feel financially secure?

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When it comes to retirement, how much would it take in order to feel financially secure?  

New research by a retirement study group finds that the median number across workers of all generations is $500,000.  However, because people have a median of $93,000 saved, many still have a ways to go.  

When broken out by age group. Gen-Z and Gen-X respondents said they thought they would need $500,000 to feel financially secure in retirement.  Millennials said $300,000 and baby boomers were at $750,000.  

If you are nearing retirement and not sure how you’ll make it to the finish line, Tom Jacobs, from Jacobs Financial Services, can help.  Give him a call at 616-622-4654 or check out his website at www.Jacobsfs.com.

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