The Daily Money: $100,000 is not enough for retirement

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The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Tuesday, August 4 Happy Tuesday, Daily Money readers. It's Brett Molina returning with another round of Money and Tech headlines. Although $100,000 is a lot of money, it's still not enough if you plan to retire. Yet as of April 2020, 43% of adults 60 and older had less than $100,000 in retirement savings. Here's what to do to help bolster your financial security for retirement. As we all navigate through the COVID-19 pandemic, financial security has emerged as one of the biggest concerns, especially for millennials and Gen Zers. A report from TD Ameritrade found 59% of young Americans say the pandemic has derailed their goal of becoming financially independent. Finally, the economic effects of the COVID-19 pandemic will likely linger for years to come, and the fallout will extend beyond just job losses. Want more headlines? Keep scrolling. Brett Molina, Money/Tech editor $100,000 is not enough for retirement Unless you only expect your retirement to last a short time, you will likely outlive your $100,000 in savings. Millennials, Gen Zers say pandemic has derailed their... Financial fallout from COVID-19 extends beyond job... Layoffs and furloughs: What's the difference? Ask HR Americans are leaving these cities across the US Google Pay to offer checking accounts in 2021 Recalled onions were shipped to all 50 states, Canada Why Microsoft wants to buy TikTok Why you may want to buy Google's Pixel 4A over an... Grocery shopping has changed during pandemic   FOLLOW US Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2020 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102