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The Motley Fool fool.com 15 Jan, 2022 11:30 am

40% of Investors Say It Will Take a Miracle for Them to Retire. Are They Right?

40% of Investors Say It Will Take a Miracle for Them to Retire. Are They Right?
A new survey shows investors are skeptical about their ability to save for retirement. But is their concern justified?

Will typical retirees need a miracle to be able to leave the workforce with a nest egg that can support them during their later years?The reality is, saving a retirement nest egg that offers plenty of financial security is within reach of just about everyone, especially if they start early enough -- or are willing to make the sacrifices needed to build up their account balances if they get a late start with investing.gov's calculators make determining your monthly savings target easy if you know what size nest egg you'll ultimately need.Whether you're a high earner with a lot of money saved already or are just getting started investing, if you take all these steps, you should be able to retire at a reasonable age with a generous nest egg -- even if no miracles occur.

Retiring with financial security is possible -- no miracles required Many of the investors responding to the survey were being overly pessimistic about their retirement prospects.A breakdown of your big goal into smaller monthly goals: Breaking down a big goal into monthly or even weekly amounts lets you know how much to invest each month and helps you make sure you're on track.

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