Are Today's Workers Dramatically Underestimating the Cost of Retirement?
The average worker believes they'll need about $500,000 to feel financially secure in retirement, according to a Transamerica survey. But there's a wide variance in opinion by generation. The median amount millennials feel they need to save is just $300,000, while baby boomers are more inclined to say they'll need about $750,000.
So which estimate, if either, is right? The answer is a little more complicated than you might think.
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Source Fool.com
