How to Retire With $2 Million on the Average American's Salary
The average American earns about $51,480 a year. That's based on the $990 median wage for the second quarter of 2021, according to the U.S. Bureau of Labor Statistics.
If you're earning an average salary, it may seem impossible to save and invest enough to retire a millionaire, especially with the costs of housing, child care, and groceries soaring. But a Schwab Retirement Plan Services study found that the average 401(k) plan participant believes they'll need just shy of $2 million in retirement.
Think $2 million is out of reach? Here's how to get there on the average American's salary.
Source Fool.com
