Six in 10 people think they need to save 30 annual salaries for retirement
January 28, 2025 by Steve Randall
Most people expect to retire and are aware of retirement even before they start work.
Read the full story via InvestmentNews
Wink’s Moore on the Market: “A new survey shows just how far removed perception can be from reality, with 56% of employees polled thinking they need to have saved 30 times their annual salary if they want to retire at 65.
The research from Principal Financial Group also found that 54% of respondents think they can comfortably withdraw 10% of their retirement savings every year without outliving their savings.
You would think even some grade school math would make them reconsider their beliefs, but for now it means a significant share of Americans think they need to save three times more than may be sufficient and think they can withdraw roughly 2.5x more each year than would be a typical maximum.”
Unbelievable.
Check out some bananas market research. -sjm