How much do you really need to retire with mental comfort?
Americans believe that the “magic number” for comfortable retirement is $ 1.26 million, which is $ 200,000 a year, according to recent research Northwestern mutual.
Nevertheless, despite the slight decline, the expected data for retirement security are out of the leakage of many people in the United States
Related: approximately 45 45 % of US retirement will eliminate money, including investment and diverse. There are 4 biggest mistakes here.
One out of five Americans over the age of 50 have no retirement savings, and more than half are concerned that they will not have enough money in retirement, according to ARP Survey.
Senior research, a platform that helps the family and older adults find senior residential options, in the packs where seniors are most likely to eliminate retirement savings.
In his analysis, seniorly used the latest available data related to social security income, household value and cost -related matrix ages, at the age of 65.
Research has shown that the average retirement income from the benefits, savings and investment is 62 762,000, while the expected costs over 18.2 are 7877,000, which translates a reduction of $ 115,000.
Related: The national average salary is about $ 65,000. What is the savings for US retirement – how will your stats be compared?
However, the average savings gap varies significantly in terms of retired facial state.
As the New York state, where retireers are more likely to eliminate their retirement savings: due to high costs, enough income does not always end, according to a study by the average senior in New York, they will need about $ 448,000.
According to research, seniors are most likely to see the revenue difference in Hawaii, Washington, DC, Alaska and California, with an average of 7 417,000 to 7 337,000.
Related: Is the initial retirement really out of the question for you? Here are 10 points of money that can help it be.
Retirers who want a better opportunity for financial relief during their golden years can consider states where on average, people have enough income and assets to meet their expected expenses.
The elderly in Washington, Montana and Utah are likely to reduce their retirement savings, thanks to relatively high -expected income and moderate costs, which, according to average data, increases the price of 6 146,000, 1 121,000 and, 000 43,000, respectively.
Check the full ranking of senior ranks of these states, where seniors are the most likely to eliminate retirement savings. Here.
How much do you really need to retire with mental comfort?
Americans believe that the “magic number” for comfortable retirement is $ 1.26 million, which is $ 200,000 a year, according to recent research Northwestern mutual.
Nevertheless, despite the slight decline, the expected data for retirement security are out of the leakage of many people in the United States
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