Average person at retirement age has $476,000 in savings.
The financial industry will try to convince you that you have to work your entire life and have millions of dollars in a 401(k). That is so they can skim their percentage off the top and make money but the reality is you really don’t need as much as you think you do, if you’re not an idiot with money.
Empower says the average retirement account they oversee for people ages 65-70 is $185,858. That’s absolutely nothing! That’s just over $20k a year for 10 years when accounting for gains. Most Americans don’t save.
