There was once a day when investment advisers suggested that workers should amass a million-dollar savings portfolio for retirement. But thanks to Bidenomics, those days are long gone, as a mere million dollars won’t cut it anymore.
Not only do analysts say Americans need nearly $1.5 million to survive retirement, but that cost has skyrocketed 53 percent just since 2020, according to Northwestern Mutual.
Worse, even as Northwestern Mutual advisers are urging people to have $1.47 million saved, the amount most Americans of retirement age have saved has fallen to $88,000 — an amount that isn’t at all adequate.
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“Americans’ ‘magic number’ for retirement is surging to an all-time high – rising much faster than the rate of inflation while swelling more than 50% since
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