Suppose you’ve saved for a few decades in your 401(k) plan and IRA and you’re approaching retirement. How do you know if you’ve saved enough money?
You might have heard you’ll need to save $1.46 million to have a comfortable retirement, based on a recent survey of 4,588 U.S. adults conducted by Northwestern Mutual. The trouble is, the vast majority of pre-retirees have saved much less than that. Will they ever be able to retire?
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