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How much money should a 65 year old have saved? A retirement guide

According to the Federal Reserve, the median retirement savings for households approaching age 65 is significantly lower than many financial benchmarks suggest, leaving many seniors with questions about their own readiness. So, how much money should a 65 year old have saved? The answer is complex and depends on multiple personal factors, but there are clear guidelines and benchmarks that can help you assess your position authoritatively.