It seems we could all do with some of the optimism of Generation Z as not only do they expect to retire at 60 on average, but 2 in 5 of them also expect to live to 100. They also expect to need just $1.2 million (or about N$ 22.5 million) to fund that 40-year retirement, the lowest nest egg estimate among the four adult generations surveyed by Northwestern Mutual Insurance. The survey also found that Americans on average plan to work until the age of 65, up from 64 last year and 62.6 in 2021 and believe there is a 45% chance they’ll outlive their savings – yet one third (33%) haven’t taken any steps to address this.
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