We thought it would be interesting to figure out how much you would need to put away to retire at age 67 with an income of $100,000 per year. Let’s check out the math.
In our scenario, we’ll use two averages: Average monthly Social Security benefit in 2022: $1,668.
Average life expectancy in the U.S.: 79 Of course, your Social Security could be higher or lower, and you may live to be 100 (or more) years old. The goal here is to give you an idea of how much the "average" person would need to save. From there, you can […]