Reported 9 months ago
A recent survey in the US found that 20% of the population believes they may never retire, with 70% admitting they may not afford retirement. 5 types of people are identified as more likely to struggle to save for retirement, including those whose expenses exceed income, burdened by heavy debt, relying solely on Social Security, not saving enough, and having unrealistic expectations. Expert Vawn Himmelsbach emphasizes that there is no one-size-fits-all 'magic number' for retirement savings, as factors like living costs, investments, and health all play a role in determining how much one needs for a comfortable retirement.
Source: YAHOO