What Is The Size Of The Average Retirement Nest Egg?
so there is the size of an average retirement nest egg, but it does varies, including but not limited to an individual's age, income, expenses, and retirement goals.
According to data from the Economic Policy Institute, the median retirement savings for all working-age families (32-61) is $5,000. However, this number is significantly lower for families at the lower end of the income distribution, with a median of $0 for families in the bottom quartile.
So if you want to retire to pursue one of your many hobbies, like spending time on fixing your bike and cycling or knitting, or just hiking the world you should be saving up alot
for those of you who are much closer to the retirment age, the retirement demand really increases very much.
According to the Federal Reserve's Survey of Consumer Finances, the median retirement savings for households with a head of household aged 56-61 is $172,800. However, this number is skewed by a small number of very high savings balances, and the mean retirement savings for this age group is significantly higher at $454,800
These numbers are for averages in america, and its much different if you both want to travelthe world, but also if you just end up moving to a much cheaper place in the world. because some places in the world have much cheaper living rates.