April 20, 2023
Retirement Savings Charts: Why You Shouldn’t Panic
A recent article challenges the common advice to have a specific multiple of your salary saved for retirement by a certain age, citing Fidelity’s chart which suggests having 10 times your salary saved by age 67. The author conducted a poll among colleagues and found most didn’t meet these recommendations, arguing that such charts rely on unrealistic assumptions like retiring at 67 and living to 92, and require a 15% savings rate—difficult for many given rising housing costs and
