Reported 4 months ago
In a 2024 article, a 62-year-old retiree nicknamed Lopez shared his retirement savings details as an average middle-class earner who previously made around $72,000 annually. His savings included an emergency fund of $9,500, a $250,000 401(k), $100,000 in Roth IRAs, and $110,000 in taxable investment accounts. Lopez attributed his success to living frugally, employer-matching contributions, automated savings, and investing in Vanguard ETFs. He advised starting to save earlier, seeking financial advice, and building passive income streams for a secure retirement. Fidelity suggests aiming to save 10 times your income by 67 or using the rule of 25 to determine retirement savings goals.
Source: YAHOO