Tag: retirement savings
People often ask how much they have to save for a secure retirement. The answer depends on a number of factors. Earnings level. The lower the earnings, the greater the portion provided by Social Security and the lower the individual’s required saving rate. Rate of return. The higher the rate of return on assets, t…
The brief’s key findings are: Recent estimates suggest that people need about 80 percent of their pre-retirement income in retirement. The saving rate needed to hit this target depends on earnings, saving start age, retirement age, and asset returns. An average earner who starts saving at 35 and retires at 67 needs to save 18…
