With economic uncertainty around every market dip and Social Security benefits being tenuous at best, padding your retirement accounts while battling the rising cost of living is getting harder and harder. Baby boomers in America are already at or near retirement. So, how much should the average middle-class boomer have in savings to comfortably weather their golden years?
While Andrew Latham, certified financial planner (CFP) and managing editor at SuperMoney, stated there’s no one-size-fits-all answer given factors like debt, present funds, possible bequests, medical expenditures and expected inheritances, there are a couple of popular rules of thumb that can help guide retirement savings goals.
