He only gets $28K a year in interest, how will he manage? 😩

  • knfrmity@lemmygrad.ml
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    14 days ago

    Between medical bills and potentially needing a care home or home assistance later on, that amount can disappear quick. If you own your home, which many in the retiring generation still do, you also have taxes, upkeep, and maybe even the rest of a mortgage to pay off as well.

    Some US based financial advisors recommend having $1.5M or more saved to retire.

    Retirement is for the propertied class.