According to a Schroders survey, nearly half of Gen X Americans haven’t done any retirement planning, with many stating they are almost two-thirds of the way to their $1.1 million retirement savings goal.
Yahoo Finance’s Kerry Hannon details this trend and ways Americans can get started on their retirement savings.
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-READTHISANDSAVEGORRETIREMENT- MYRO on SOLANA!!
Universal Basic Income is needed ASAP.
I need to speak to a manager right now
lol no, financially responsible people are needed not more handouts
You can be first to give up your social security then!@@nattt5614
Ouch
I’m ten years away from traditional retirement age, never knew I was considered amongst the oldest Gen X’s. I’m on track I believe.
I’m 40 and currently venturing into the stock market, my ultimate goal has always been to retire at 55, is it possible to raise over $8million in portfolio size before my retirement at 55, I have about $1m in savings.
with the current state of things in regards to inflation and economy $8million might possibly not be enough for retirement
why won’t $8million be enough? it basically boils down to your expenses and maintaining a healthy budget after retirement.
@adenmcanelly4316 Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 10years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.
@@Busbybae bravo! i’m 46, inherited money from a childless relative and traveled overseas, got married to a lady almost my age, but the only issue is how to preserve and grow my wealth in view of retirement, can your advisor be of help please?
Certainly…..Monica Selena Park deserves credit as one of the finest financial planners who decides what i acquire including digital assets. Her reputation precedes her, and I highly recommend her on a public post, Conduct your due- diligence online and let me know what you think
I don’t believe they have not saved or planned, its that cost of living out paced salaries for the last 50 years.
Where to invest?
1. Invest what?
2. How many people have been victims of the system? Remember Enron? The bank bailouts?
Don’t blame people for being weary of the system.
People often don’t have much extra cash to invest in their twenties and thirties and even into their mid 40s due to kids, home purchase, college, etc. I saved 4/5th of my current retirement funds from age 49-58, and only 1/5th of it was accumulated in the decades prior to that. I am the oldest of GenX and I think there are many in GenX who will be drastically ramping up their retirement savings in their mid/late forties through early sixties and hopefully be okay.
Serious problems with some of the assumptions, like how much you need. Fidelity saying you need 10x salary? Ridiculous. Your spending goes down significantly in retirement. Are some underfunded? Sure, but investment houses make money on over-saving. Use one of several free retirement calculator websites to run the actual scenarios.