Americans Say the Price Tag for Retirement Security Is $1.9 Million
Financial security comes at a high price, at least according to most Americans. A recent Schwab survey of workers who are investing in 401(k) plans reveals that, on average, these investors believe they need to save $1.9 million for their retirement. This hefty sum is a big increase compared with last year's survey, when 401(k) participants on the whole believed $1.7 million would buy them financial security in their later years.
This raises two big questions: Are these workers right, and how much would you actually need to invest to hit this target?
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Source Fool.com
