Personal Financial Health Check: How do You Measure Up
Is comparing your finances to the average person beneficial? In short: no. The average savings figures, as detailed below, simply aren't sufficient to beat inflation and support the lifestyle we aim for in retirement. Here's the problem: What most people consider "average" is often well below what's needed for true financial security. When the average person has far too little saved to retire comfortably, aligning your progress with their standards is setting yourself up for failure. The truth is, being average financially means you’re likely underprepared. Inflation keeps eating away at stagnant savings, cost of living continues to rise, and retirement goals keep shifting further away. When you measure yourself against mediocrity, you lower your own standards. Instead, establish your own clear financial goals, understand precisely what's needed to achieve them, and diligently work toward them. Your financial future deserves better than average. Step 1: Revi...