Saving too little
The average baby boomer has saved $175,000 for retirement, and a third has $250,000, according to Allianz. While you might think “well, that’s a good number”, the truth is that it’s not even close to how much they should have stocked up.
As chairman and CPA Howard Dvorkin from Debt.com says: “Think about it this way: If you plan on living two decades after you retire, how far will $175,00 or even $250,00 really take you?
Don’t forget to factor in your escalating healthcare costs and inflation. Do the math, and you might be in for a shock” It seems like someone needs to reevaluate their situation…
