Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
If you drop the spending whatever you want, a few million should be sufficient. If you get a 5% annual return that’s $50,000 a year per million invested. $150-200k a year if you own your house is more than enough to not worry about having enough money. Plus there’s millions in the bank for any truly major expense.
If you mean that they eventually got placed on Social Security disability then yes the majority do retire. You should see what the nursing homes for people in the government system are like.
If you drop the spending whatever you want, a few million should be sufficient. If you get a 5% annual return that’s $50,000 a year per million invested. $150-200k a year if you own your house is more than enough to not worry about having enough money. Plus there’s millions in the bank for any truly major expense.
So the top 10% of income earners?
The threshold is significantly lower since the vast majority of Americans do, in fact, retire.
That’s not gonna be true for much longer. Watch the Republicans plunder Social Security and Medicaid like they’ve been hankering after for decades.
Ideally I’ll watch them be voted out of power instead.
If you mean that they eventually got placed on Social Security disability then yes the majority do retire. You should see what the nursing homes for people in the government system are like.