The Daily Money: Are you ready to pay the 'MKT' price?
Good morning! It’s Daniel de Visé with your Daily Money.
Do you know what MKT means?
Not knowing could cost you the next time you eat out.
How much money does it take to be financially 'comfortable'?
You don’t need a million dollars to be financially comfortable. A little over $800,000 will do.
That’s the takeaway from the new Modern Wealth Survey by Charles Schwab.
It may be mostly a matter of semantics, but American consumers see a big difference between the financial goals of comfort and wealth: A nearly $1.5 million difference, to be exact.
Cities where Social Security goes furthest
Social Security is supposed to replace about 40% of the income earned in working years, according to the federal agency. That’s why Americans are urged to save for retirement.
For retirees in big cities, however, Social Security dollars may not even go that far.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.