Boomers should have $2M-$5M saved, says Caleb Hammer
Caleb Hammer claims that US boomers should have saved between $2M and $5M.
He based this claim on the assumption that if someone who was 25 in 1990 made an average US salary and saved 5% to 10% per month in the S&P 500, they would have accumulated significant wealth by now.
The math behind this claim is based on Social Security Administration data, which shows that the national average wage rose from $21,028 in 1990 to $69,847 in 2024.
Using S&P 500 total return data, the calculation suggests that such an individual would indeed have around $2 million to $5 million, depending on exact assumptions.