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Am I going to end up in the poor house in retirement?
According to the latest issue of Money magazine, less than 1% of all 401Ks right now are in the seven figure bracket. The number though has been increasing since 2012 which is the good news. I don't believe I will get there by the time I turn 65 unless I start stashing away more than the 15% I am putting away now. I maxing out the 401K but I just started too late to catch up. I will have to supplement it with another retirement savings plan.
Anyway, is $1M going to be adequate for retirement in the year 2030?
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