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Do you fall into this camp too?Experts offer some tips.
However, data shows average 401(k) balances are far below these targets, Ashley said.
This gap is often due to underestimating future needs, inflation, and rising healthcare costs.
Finding out you have a shortfall is a lot better when youre younger, as well.
Addressing this knowledge gap requirescomprehensive financial educationand personalized planning, he said.
Encouraging regular financial check-ups and adjustments to savings strategies can help individuals stay on track, Hakimian said.
Most importantly, dont put off retirement planning for someday only to find yourself there with a shortfall.
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