As with most clickbait pieces about retirement money, it doesn't make it clear if the savings target is for people who own a mortgage-free dwelling or for people who either have a loan to repay or are renting. It also assumes that retired people will have the same expenditure as when they were working, whereas most retired people have lower expenses e.g. transport, lunches, convenience food, clothing.
There is also an assumption that retired people intend to keep their savings intact, rather than gradually using them up into old age.
I admire anyone who can save out of NZ Super. I don't.
There is also an assumption that retired people intend to keep their savings intact, rather than gradually using them up into old age.
I admire anyone who can save out of NZ Super. I don't.