50% of millennials think they need $300,000 or less to retire in comfort

I’m surprised it’s not a higher percentage.

Based millenials don’t care about retirement like you cringe boomers do. You think we dream of becoming a boomer and retiring so we can go to Walmart and bitch at people for not wearing masks like y’all?

Besides, we millenials know that with the vaccine we won’t have to worry about getting old which is pretty cool


ETA: as a millenial myself, I’m not trying to buy my way out of Egypt til I get to 10 million but more than likely I’ll die on the job and become pyramid mortar

By the time Biden is done you’ll need about $25,000,000 to retire.

The only odd thing here is Gen Z is right up there with Gen X, otherwise the trend was pretty clearly the older the generation the more they think they need to retire. Which is honestly the opposite of what you would hope to see.

Majority of folks just dont get serious about retirement planning (if they ever do) until their 50s and 60s sadly enough, by then it's too late for a lot of people to fund the retirement they may want.

Was talking with some friends last weekend and the wife was mentioning her parents are living off $350k retirement investments with like just under $3k/mo of S.S. and the mother was still working part time (they are about 70). The good news is their house is paid off, but the bad news is the mom still is working a little so they can live the retirement lifestyle they want (some, but not much, travel). She talked about how they were never really savers much growing up, but at least did manage to pay off the house they lived in for over 30 years now.

2 bitcoins should suffice in 20 or so years

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f $350k retirement investments with like just under $3k/mo of S.S. and the mother was still working part time (they are about 70). The good news is their house is paid off,

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when I read this board and retirement projections, I see people post stories like this as horror stories and it makes me wonder what these people are spending money on. $3k/mo with no house payment is solid, then add in investments (i'm hoping i read that right) and that's a really nice monthly income

About 4k per month spend.

That's pretty comfortable in the vast majority of the country, especially with no mortgage.

Millennials rent so they will have a monthly housing note. They are fricked

I'm 38 and $300K would keep me up nights. I'm lucky enough to be one of the last people to get a good pension from the state (PA). I'll retire somewhere at 75-87.5% of highest salary which will cover a lot, but I still try to invest about 20% of my salary on top of that. Our pensions are not COLA so if inflation really blows up it will decimate my payout. My wife puts away a lot too. I don't know if we'll retire early, but we will be able to retire comfortably I do believe.

I had a colleague give me a good piece of advice once, if you plan on being retired for 25 years, you will need $30,000 to cover a $100 a month bill (like internet, cell phone, etc). Just blew my mind to think of it in thet way.