Here is the average retirement plan balance for Americans. How does yours compare?

Here is the average retirement plan balance for Americans.  How does yours compare?

You’ll need money in retirement to cover your bills outside of Social Security. These monthly benefits will only replace about 40% of your pre-retirement income if you earn an average salary. If you prefer not If you’re facing a 60% pay cut in retirement, then saving for yourself is crucial. And you can do it …

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The average American household has a net worth of $1.06 million

A wealthy looking woman opening her car

The median inflation-adjusted net worth for the average household was $1.06 million in 2022, according to the Federal Reserve’s Survey of Consumer Finances. EMS-FORSTER-PRODUCTIONSGetty Images It may be hard to believe when money is tight amid the cost of living crisis, but the average American household has achieved millionaire status. More specifically, the average inflation-adjusted …

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