Many people aim to retire with $1 million or more in savings. Now the reality is that you don’t necessarily need that much money to enjoy retirement to the fullest.
But you do need a decent level of personal savings, especially since you can only count on Social Security to replace about 40% of your pre-retirement paycheck.
If you’re not happy with the state of your nest egg, you may be wondering whether your senior years are doomed. The good news? They aren’t. Here are a few ways you can compensate when your savings aren’t as robust as you’d like them to be.
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