Am I All Set for Retirement With a $3 Million IRA?
Many seniors retire with little to no savings and wind up heavily reliant on the benefits they receive from Social Security. That's not a good thing, though, because those monthly benefits generally will not come close to replacing your pre-retirement paycheck in full. That's why it's so important to do your part to save independently.
Now Motley Fool research finds that the median retirement savings balance among Americans aged 55 to 64 is $185,000 as of 2022, while the median balance among those aged 65 to 74 is $200,000. But what if you're heading into retirement with a lot more money than that?
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Source Fool.com
