How much should you save up to live comfortably in retirement in the USA

Financial experts have called the new amount, which is necessary to postpone the American for a comfortable life in retirement.

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For many decades, it was believed that a million dollars was enough for a comfortable pension. Now this figure has expanded to $ 1,5 million, writes The New York Post.

According to Rebecca Walser, a tax lawyer and certified financial specialist, the increase in the average life expectancy of Americans, low interest rates of income from banking pension investments, and the fact that social security from the state is no longer a guaranteed option for all US residents .

Wolser advises Americans to start putting 25% of their annual income into a retirement account, rather than 10%, as most people are doing at the moment.

Among the biggest concerns, Wolser calls the rapid growth of the US federal debt, which currently stands at more than 21 trillion dollars, which could lead to a collapse of the social security system and some government programs. And this in turn can lead to higher taxes in order to strengthen the US financial system, which is in a difficult situation, so an increase in the amount of pension savings is critical for those who retire in the coming years and want to spend this time comfortably.

According to the expert, 1,5 million dollars in a pension account will allow Americans to receive 60 thousand dollars a year in the first years of their pension (standard 4% of total savings), which will make them feel confident. The lawyer advises not to rely on the social security system, as well as to increase the interest rates on income from investments.

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