WaPo: Millennials may need to double how much they save for retirement

WaPo: Millennials may need to double how much they save for retirement

Recap: The personal finance website NerdWallet recently estimated that millennials need to save 22 percent of their paychecks to have enough cash in retirement if stock market gains are weaker going forward.

Predictions:

  • A roundup of the figures shows that strategists project the Standard & Poor’s 500-stock index will gain 4 percent on average in 2017 — the lowest expected annual gain for the stock market since 2005
  • If those gloomier outlooks hold true, workers saving for retirement today may not get as much from their portfolios in the long term as previous generations did

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