It costs a shocking and frightening amount of money to have a secure retirement in the US. If you're planning to live to 80 with any kind of financial stability you need high, stable income for decades and careful saving. 400k - expenses is real good, but they've only been doing it for a couple of years and it probably won't last. Once you hit 65, if you're not disabled before that, you've got to cover all your expenses for 15 years with savings while medical, housing, and food costs continue to go up with no end in sight.
Most people will never be able to retire, but even people who do have a chance need to put away a great deal of money to have a chance of staying solvent until they die.
I don't think most people even think about retirement these days, it's an idea from an older world, but if you're going to try for it it's very costly.
It costs a shocking and frightening amount of money to have a secure retirement in the US. If you're planning to live to 80 with any kind of financial stability you need high, stable income for decades and careful saving. 400k - expenses is real good, but they've only been doing it for a couple of years and it probably won't last. Once you hit 65, if you're not disabled before that, you've got to cover all your expenses for 15 years with savings while medical, housing, and food costs continue to go up with no end in sight.
Most people will never be able to retire, but even people who do have a chance need to put away a great deal of money to have a chance of staying solvent until they die.
I don't think most people even think about retirement these days, it's an idea from an older world, but if you're going to try for it it's very costly.