“Some good practical advice”
You can’t retire on $1 million. And that was an uptick in the market.
And you can’t build a home gym for $10K either. This sounds like a made up story.
“You can’t retire on $1 million. And that was an uptick in the market.“
A lot of good advice in the article but I think it’s missing something as well.
He didn’t have enough saved when he retired, unless there is another income stream that isn’t mentioned .
>>You can’t retire on $1 million. And that was an uptick in the market.
Maybe you can’t - but lots of folks could - median income in the US is only mid 30’s/year - $1M will likely supply 30K/year income for a very long time - throw in a bit of SS when you reached that required age and voila.
That said, I wouldn’t want to retire on 33K/year income, but for an awful lot of folks with modest lifestyles and low cost of living, they would just do fine.
I think you can live on a million if you’re house is paid off. I have 65K left and hope it’s true. Having a pension helps though. Unfortunately most don’t have those anymore.