CR Must be Reading Our Posts
This seems to be written by one of the financial guru's that post here. Basic stuff, but soooo true. Proves that even Consumer Reports gets it right occasionally.
$1M Retirement Nest Egg Attainable, Consumer Reports Finds. - Financial Planning
Retirees who started saving and planning for their retirement in their 30s had an average net worth of $1.1 million, the magazine found. Those who started in their 40s had an average net worth of $868,000, and those who started in their 50s or later had an average net worth of $651,000.
The importance of saving early was underscored by the 39% who said they regretted waiting to save.
Surprisingly, the magazine found that lifestyle trumps savings as the main focus in retirement, with 75% of those with $1 million or more in retirement saying they were highly satisfied in retirement, yet 50% of those with a net worth of less than $250,000 said they, too, were highly satisfied in their golden years.
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