Please keep that in mind, especially if you’re discouraged your savings don’t currently match the recommended targets for your age. A very ballpark estimateOne of the more flexible age-based retirement savings benchmarks comes from mutual fund company and 401(k) record keeper T. Rowe Price. Among their assumptions, they presumed your retirement savings are in tax-deferred accounts like a 401(k), which means you will owe income tax on your withdrawals in retirement. But here’s the thing …Many Americans’ savings likely fall at or below the lowest end of the recommended savings range for their age. Or you may plan to work past age 65, which will give your savings more time to compound.

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Persons: New York CNN —, you’re, Rowe Price, ”, Ann Minnium, ” Minnium, “, Roger Young Organizations: New, New York CNN, Research Locations: New York, United States, New Jersey