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from age 50 to age 65, the numbers don't make much sense.
Tax rates go up when you earn more, at age 50, if you have couple of kids, you will likely be helping them with college tuition, and will probably have minimum in savings, to say that age 65, you should have 8 times your salary is not very durable.
Also, unless you plan to travel and waste a lot of money, I don't think i will need 8 times my 65's salary in savings. I will probably be too tired to do much, but you never know, they say the 65 is the old 55, we will see about that.
Too tired at 65?! What kind of 65-year-olds are you used to? Some people stay healthy for decades beyond that. Much of that is not spending your whole life sitting down.
Also, there is a link in the article that takes you to mean/median retirement savings. Apparently, the median savings for a family 32-37 is $500. That is astronomically low. They must be missing something, right?
Probably not, unfortunately. People just don't prioritize saving.
I will probably be too tired to do much, but you never know, they say the 65 is the old 55, we will see about that.
If you smoke, binge drink and eat crappy processed food, you will be too tired or dead. If you don't do those things, you'll probably be in good shape.
nothing is 100% guaranteed but you can have a high degree of success with :
annuity's
gov't pensions
to some extent private pensions
social security .
that is about as guaranteed as you can get , and none are 100% .
after the above there is income that is reliable but not a consistent amount such as ,bonds and cash instruments .
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