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Reply to "Any 50yo+ with retirement savings less than $2million?"
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[quote=Anonymous]OP, know that majority of Americans (80%) have less than 250k retirement savings. This data is from several sources. DCUM shouldn’t be your main point of reference. What you need to do is start reading about retirement lifestyle and financial resources. It really all boils down to what kind of lifestyle you envision of your retirement. The first decade or 15 years of your retirement (assuming you’re retiring in early 60’s) is the most likely you’ll spend. After that, your spending habit will decrease because you will be in your “slow go” years. There’s no one size fits all. Consult a financial advisor and discuss your retirement goals. Do you plan to do a ton of traveling? Do you intend to join a golf club? Do you want to downsize and move to a lower or higher cost of living area? These are the factors you need to base your retirement income, not how much the DCUM members have invested .[/quote]
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