"According to the Employee Benefits Research Institute, only a bit over 3% of Americans have amassed at least $1 million for retirement, highlighting the challenge."
"Despite a common belief that one needs $1 million to retire comfortably, a very small percentage of Americans actually meet this benchmark in reality."
For years, the perception has been that to retire comfortably in the U.S., one must have at least $1 million in savings. However, the reality is stark, as only about 3% of Americans reach this amount in their retirement funds, according to the Employee Benefits Research Institute. Additionally, just 4% have savings between $500,000 and $999,999. This illustrates a significant gap between aspiration and achievement regarding retirement savings and highlights the need for improved financial habits to help more Americans reach their retirement goals.
Read at 24/7 Wall St.
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