Now is when you begin to reap the rewards of decades of saving. At some point, you’ll be using this money to support your lifestyle.
By 60, Ideally, you should have saved 6 times your Annual Salary as your Nest egg or emergency fund.
However an Average American has an estimated saving of only around $172,000 in his bank.
But you should also consider that your Social security would also contribute towards a significant source of your monthly income at this age.