This Is How Much Older Adults Have Saved for Retirement
The average American estimates retirement will cost around $1.7 million, according to a survey from Charles Schwab.
Although the exact amount you'll end up spending in retirement will vary from person to person, you'll likely need several hundred thousand dollars stashed away if you want to enjoy your golden years comfortably. Most of today's workers no longer have a pension to count on, and the average Social Security benefit amount is just $1,471 per month -- which is hardly enough for most people to live on.
Image source: Getty Images.
Source Fool.com
