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Saving for retirement? You need at least $3 million, says study

Most respondents are optimistic they'll move closer to their retirement goal by ending 2023 with a balance of retirement savings higher than it was at the end of 2022

funds, investments, stocks, valuations, returns, investors, MFs, mutual funds, savings
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It’s one of the thorniest financial questions: how much is enough to be comfortable when you retire?

The answer is somewhere between $3 million and $5 million, according to the 553 investors worldwide who shared their views in the latest MLIV Pulse survey. About a third of investors pegged it at $3 million, and roughly another third at $5 million. 

Most respondents are optimistic they’ll move closer to their retirement goal by ending 2023 with a balance of retirement savings higher than it was at the end of 2022.  

Last year, inflation and rising borrowing costs hammered stocks, and since bond prices also

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First Published: Feb 21 2023 | 10:44 PM IST

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