[Apparatchik]

…. the average American now believes they need $1.46 million to retire comfortably.

This is hilarious.

The median household retirement savings at retirement age in the US is less than $300K, so the overwhelming majority of Americans (like 99 percent) will never have even a million dollars going into retirement. Why? Because they are stupid and undisciplined and have to have luxuries now, thinking the government or their kids will take care them.

Just last night a guy I barely know, who did nothing for his retirement and is in his late 60s, called to borrow $250 to get him to end of the month and his SS check. This is the plight of too many people - I was briefly a financial planner several years ago, but moved on because I was shocked by the financial illiteracy of most my clients.

[Alberta's Child]

What is included in that $300k “retirement savings” figure?

I ask this because I made a conscious decision some years ago to reduce my retirement plan contributions and aggressively invest OUTSIDE these plans. At some point, my “non-retirement” assets will surpass the value of my retirement plan assets.