Expert: Gen X needs ‘11 times more’ in savings for secure retirement

Americans are “somewhat challenged” in having a secure retirement, one expert said recently on Yahoo Finance.

“There’s a big mismatch between savings and safety,” Fredrik Axsater, head of institutional client group at Wells Fargo Asset Management, told YFI PM recently.

He noted that members of Generation X have saved only $66,000 for their golden years, even though they believe they will need $750,000 for a comfortable retirement. That’s “11 times more,” he said. (Pew Research defines Generation X as those born between 1965 and 1980.)

Dhara Singh | Yahoo Money

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