Thursday, May 20, 2010 10:11:02 AM
Generation Y (ages 18 – 26): The recommended goals are the greatest for Generation Y. More than three-quarters (77%) of retirement income advisers suggest a goal of at least $2 million, and more than 40% believe that Generation Y should be targeting more than $3 million in retirement funds.
Generation X (ages 27 – 42): About half of retirement income advisers (46%) believe Generation X should save between $2 and $3 million. 22% suggest a goal of more than $3 million.
Boomers (ages 43 – 64): About 35% of retirement income advisers think Boomers need between $2 million and $3 million to retire, and 13 percent believe Boomers need more than $3 million. 30% recommend a retirement goal between $1.5 million and $2 million.
Seniors (ages 65+): 44% of retirement income advisers say $500,000 to $1.5 million is sufficient for average seniors.
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