One million dollars is a common benchmark when it comes to retirement goals, and many resources will recommend this number as how much you should save before you retire. http://bit.ly/2GeByc2

However, while one million dollars may sound like a great goal to strive for, the truth is that one million probably isn’t going to be enough for you to live a comfortable and enjoyable retirement. To better understand how long one million dollars will actually last in retirement, we’ll take a look at some of the factors affecting how much retirement costs.

Wondering how much you need to save for retirement and how investing can help? Try my free retirement quiz today! Click the link above.

Looking to master investing? Attend one of my FREE 3-Day Transformational Investing Workshops. Apply here http://bit.ly/r1workshop

_____________
Learn more:

Subscribe to my channel for free stuff, tips and more!
YouTube: http://budurl.com/kacp
Facebook: https://www.facebook.com/rule1investing
Twitter: https://twitter.com/Rule1_Investing
Google+: + PhilTownRule1Investing
Pinterest: http://www.pinterest.com/rule1investing
LinkedIn: https://www.linkedin.com/company/rule-1-investing
Blog: http://bit.ly/1YdqVXI
Podcast: http://bit.ly/1KYuWb4

1 million retirement, retirement planning, how to invest, retirement number, saving for retirement, retirement calculator, 1 million in retirement, whats my number, million dollar retirement,

source

21 COMMENTS

  1. In France, we have social security like you, but we also have complementary retirement funds automatically financed by our work; we can also have other assets from our savings, and this is enough to live on (except if one wants to live like a prince), so this is ridiculous, we wouldn't need the equivalent of one million dollars to live on, and so your question seems ridiculous to me; saying that you are doomed if you "only" have one million dollars is preposterous; I bet that you yourself are quite rich to emit a so ridiculous idea.

  2. My parents retired in Philippines just by using their social security of 1500.00 USD a month and they live like royalty. They retired over 8 years ago and never had to touch their savings or pension.

  3. I am curious why you said "…if you're a good investor, not one at there buying index funds, but a really good investor…" what is wrong with index funds? What might a really good investor be doing instead of buying index funds? Also, you said if you want a great enjoyable retirement you need $2,000,000. What is a really good enjoyable retirement?

  4. For my retirement planning, I just use a spreadsheet with a row for each year, and the columns list assets, income, and expenses. The fist columns contain different categories of assets (IRA, taxable, and bank balances). In the next set of columns, I list retirement income streams (social security, pension, part-time income etc). In the next set of columns, I list expenses (budgeted, medical, taxes, charity, etc). At the top I have variables I can experiment with, such as inflation, interest rates, etc.that are used in the formulas for each row. Come ask me in 30 about years how well it worked out.

  5. The idea of investing is very simple. When you have a good job and a decent lifestyle, you should have some money left in your bank account. Just like you are still working, you should find your money a job. Please be aware of one thing, your money could leave you if the job you find for your money is bad. Find your money a good job like the one you found for yourself.

  6. This guy says nothing about pensions, SS and company health insurance for retirees. Add that to the $30K per year you can get off of 3% of a million dollars per year and you'll still be tucking money away in retirement. I don't trust this guy.

LEAVE A REPLY

Please enter your comment!
Please enter your name here