How Much Should Retirees Have Invested by Age 67?

Everyone dreams of a comfortable retirement, but it's a reality too few realize. The median U.S. household aged 65 to 74 has just $200,000 saved for retirement.Using the popular 4% rule, a retiree would only be able to withdraw about $8,000 from their savings annually. That leaves many people in financial distress as they exit the workforce, even when factoring in Social Security benefits. It helps explain why the average retirement age in the United States has slowly crept higher over the past few decades -- an increasing number of people can't afford to retire any sooner.Investing is important because it can help your savings grow over time, but how do you know if you're on track? Unfortunately, they don't teach you this in most schools.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool