According to the National Institute on Retirement Security, 92% of working households don’t meet the savings target they need to retire at age 67.

Where do you stand?

Look at this chart and let’s figure it out:

  • If you’re 45 with an annual income of $75,000… you should already have $210,000 set aside
  • If you’re 50 with an annual income of $100,000… you should be sitting on $450,000 by now
  • And if you’re 55 and used to living on a salary of $150,000… you should have already passed the million-dollar mark

With that in mind, look at this chart and find your current retirement number – the amount you should have saved as of today.

Then, ask yourself an honest question…

“Am I on track for retirement?”

If the answer is “yes,” then congratulations! You’re officially one of the 8%!

If the answer’s “no,” you’re among the 92% of us who aren’t anywhere close to having enough saved.

But don’t worry. There’s time to catch up. And over the next several weeks, I’m going to show you how.

Charles

Charles Sizemore
Charles Sizemore is the editor of Peak Income, a monthly newsletter focusing on income and retirement strategies.