3 Reasons You Won't Retire Rich
Retiring comfortably takes a lot of money -- often $1 million or more. You don't need a six-figure income to save that much, but you do need a plan and the discipline to stick to it. Yet many people make shortsighted choices that dash any hopes of retiring with enough money. Here are three mistakes you can't afford if you hope to retire wealthy.
Study after study has shown that people tend to underestimate how much they need to save for retirement. Transamerica found that baby boomers and Gen Xers estimate that they'll need $500,000 on average for retirement, while millennials believe they'll be able to get by with just $400,000. But the average retiree's spending habits tell a different story.
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Source Fool.com
