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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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