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For most Americans, $1.7 million is the magic retirement number

September 5, 2019

From the CNBC website

When it comes to retirement savings, many Americans miss the mark.

On average, Americans believe they need $1.7 million to retire, according to a recent survey from Charles Schwab, which looked at 1,000 401(k) plan participants nationwide.

In fact, “that’s a pretty good number if you average out age and median salary across the U.S.,” said Nathan Voris, a managing director at Schwab Retirement Plan Services.

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