WASHINGTON—Revealing that retirees have a lot to look forward to after exiting the workforce, the Federal Reserve Survey of Consumer Finances, published Wednesday, found that the majority of Americans had enough saved for an absolutely incredible single day of retirement. “By the time most people leave the workforce, they’ll have accrued the necessary funds to […]
  • Zorsith@lemmy.blahaj.zoneEnglish
    0·
    29 days ago

    “Retirement” for me would likely require an 8 digit sum of money and a functioning economy in 40+ years. I don’t anticipate having either.

    • MNByChoice@midwest.socialEnglish
      0·
      29 days ago

      At spending 4% per year, and assuming US Dollar, $10,000,000 would provide $400,000 per year to spend. Depending on inflation, may be a lot.

      • thatKamGuy@sh.itjust.worksEnglish
        0·
        29 days ago

        You need to also account for 40+ years of inflation to boot. $400K is a lot now. In the 2060s, probably not so much.