The $1 Million Retirement Myth: Why Your Retirement Income Matters More Than Your Retirement Balance
The idea that $1 million is enough for retirement was once a cultural touchstone. Financial advisors, media outlets, and even family members often cite it as a benchmark for financial freedom. But here’s an uncomfortable truth: $1 million may no longer be enough. What really matters isn’t how much money you have in the bank, it’s how much income you’ll build into retirement.
Children With Savings Accounts in Their Own Names Are Twice as Likely to Save as Adults
Research tracking thousands of young people over time found that children who held a savings account in their own name were twice as likely to save and four times as likely to own stocks as adults, even when the balance was small. Black and Hispanic households remain unbanked at more than five times the rate of white households, according to the 2023 FDIC National Survey of Unbanked and Underbanked Households.
