$1MM ain’t that high. It is subsistence in retirement.
>>$1MM ain’t that high. It is subsistence in retirement.
True and yet that is about 7 times the median amount people actually have when they retire (and 2X the average, which is skewed by those top few percenters).
Personally, $2M is probably the minimum for a ‘comfortable’ retirement these days (80K per year draw) - $3M would be better (120K per year draw)...and by comfortable, I don’t mean living a luxurious jet-setting lifestyle, I mean being able to pay for your basics, including health care, splurge once in a while on a few trips a year or spoiling the kids and grand-kids once in a while, and not having to worry about running out in your 80’s and being dependent on your kids (or the government).