New Yorkers Stunned by Retirement Saving Targets in Discussion with Economist
Friday, 12 July 2024, 19:00
New Yorkers Stunned by Retirement Savings Benchmarks
A recent discussion with labor economist Teresa Ghilarducci has shed light on the stark retirement saving targets individuals should aim for:
- By age 30: Save one times your annual salary
- By age 40: Achieve two and a half to three times
- By age 60: Target eight to 10 times
New Yorker Vanessa Longshaw, a 34-year-old VP in communications, expressed disbelief at the suggested savings figures, questioning, "Who could save that much?"
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.