$4.3 Million Or $1.27 Million? What’s The Point Of Scary Retirement Projection Numbers?
Fiduciary News referenced Of Counsel Michelle Capezza in an article published discussing retirement projection numbers. Michelle said, "Retirement security is an issue of utmost concern, and based on recent statistics, at least one-third of private-sector workers do not have access to an employer sponsored retirement plan.
She continued, "States have been taking on a variety of approaches to tackle this issue with retirement marketplaces and payroll deduction IRAs, and many other models are emerging. Yet, it is highly unlikely that someone will be able to save or accumulate $4.3 million in these types of retirement programs. Hopefully, these kinds of million-dollar savings figures do not have a chilling effect and discourage workers from saving at all. It is important to set realistic goals based on personal situations, and to take advantage of any financial or retirement planning resources that may be available through employer programs, local advisors, or educational resources.”
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