If you make $500k per year, don't retire at 65 unless you have this much saved

A household income of $500,000 can still lead to financial strain due to high expenses and insufficient savings, necessitating careful retirement planning.

Households with significant income must save around $3.88 million by 65 to maintain their standard of living after retirement, despite their earning potential.

The assumption that earning a high income eliminates financial worries is misleading; proper saving habits are essential for a comfortable retirement.

Regardless of income, individuals need to adopt disciplined financial habits and continuously assess their progress towards retirement savings goals.

Read at 24/7 Wall St.