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Trump said $465,000 in retirement savings is ‘rich.’ Is it?

CNBC·Greg Iacurci·29 days ago
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President Donald Trump holds up an executive order during an event in the Oval Office of the White House on April 30, 2026. Trump signed an order to expand retirement account access for workers. Andrew Harnik | Getty Images News | Getty Images President Donald Trump signed an executive order on Thursday to expand retirement account access — and said young workers, if they were to save regularly, would be able to amass $465,000 in such accounts by the time they turn 65 years old. "In other words, they'll be rich," Trump said during the signing ceremony. But financial advisors disputed that characterization, saying $465,000 wouldn't necessarily qualify someone as being wealthy in retirement — especially when that nest egg might have to be spread over roughly two or three decades . "There are advantages to these accounts, but I don't believe they are going to make people rich," Barry Glassman, a certified financial planner and founder of Glassman Wealth Services, wrote in an e-mail.…

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