Are you sure you’re ready to retire? No, really … are you sure? Although some 73% of American workers say they’re on track for a comfortable lifestyle in retirement, a recent report from Transamerica Center for Retirement Studies found their savings numbers may actually paint a different picture.
Pros say the general rule of thumb is to replace somewhere between 60% and 80% of your pre-retirement income to sustain your current lifestyle in retirement. If we’re using that as a baseline — which is typically a different amount for everyone — the majority of households today are under-saving.