Don't Believe Everything You Read: You May Not Need 10X Your Salary to Retire
Retiring on Social Security alone isn't the best idea. The typical retired worker today collects just $1,918 a month, which results in about $23,000 of yearly income. If that doesn't sound like a sufficient amount of income to you, then you'll need to plan to save well on your own.
But what does "saving well" mean? If you ask Fidelity, they'll advise closing out your career with 10 times your ending salary saved by age 67. And to be fair, that's probably good advice for a lot of people. But don't assume you're doomed if you end up retiring on less.
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Source Fool.com
