This is how big your retirement savings gap is based on your age
If you feel confident that you will live comfortably in retirement, you might want to double-check how much you are really saving.
But because they are older — 64 years old on average — and they have a shorter time to their goal retirement age, 69, they must put away much more per year: $142,357. What makes matters worse is that 22 percent of workers admitted to taking a lump sum distribution from their retirement funds without moving the money to another plan.Residents in this metro area saw taxes rise by more than $2,600It's not all bleak when it comes to retirement. There will be other sources of income, such as Social Security or the proceeds you may see if you decide to sell your home.
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