A new survey published by Acorns last week revealed that half of millennials think they'll need just $300,000 to "retire comfortably".
The funny thing is that they mostly guessed! They didn't even do this simple math: At a baseline annual spending of $50,000, one should have a minimum $1 million to retire today.
Most Millennials will be retiring many years later. Thanks to inflation, they'll need millions of dollars to retire comfortably in the US.