How much do financial experts suggest that people should have saved by age 55 if they are planning to retire at age 65?
A) At least $500,000
B) 7 times their current working salary
C) Typically they can afford to wait until age 55 to start saving
D) Enough to cover 3 years of expenses

Question

Quizplus · Accepted Answer

Financial experts often suggest having 7 times your annual salary saved by age 55 as a guideline to ensure a comfortable retirement by age 65. This is based on the idea that it provides a substantial nest egg to support retirement expenses, assuming a combination of savings, Social Security, and any other retirement income.

How Much Do Financial Experts Suggest That People Should Have