[Brian Griffin]

If you live in a metro NY suburb $1.46 million might be an appropriate goal.

[NorthMountain]

$1 million milestone is starting to look less like a finish line and more like a checkpoint.

Because "inflation" destroys savings and cheapens investments. If you're 60 years old, today's "dollar" has the same buying power as a dime the year you were born.

[Paladin2]

2% Inflation compounded over 70 years?

[lee martell]

” .... before you know it, you’re talking about real money!”

[Steely Tom]

I remember those ads on TV from the big banks. Back in the early '80s.

"You can retire... a MILL YON AIRE!"

They forgot to mention that a 1982 dollar would be worth about $3.45 in today's money. A million 2026 dollars are worth about $290K in 1982 money.

[Apparatchik]

…. the average American now believes they need $1.46 million to retire comfortably.

This is hilarious.

The median household retirement savings at retirement age in the US is less than $300K, so the overwhelming majority of Americans (like 99 percent) will never have even a million dollars going into retirement. Why? Because they are stupid and undisciplined and have to have luxuries now, thinking the government or their kids will take care them.

Just last night a guy I barely know, who did nothing for his retirement and is in his late 60s, called to borrow $250 to get him to end of the month and his SS check. This is the plight of too many people - I was briefly a financial planner several years ago, but moved on because I was shocked by the financial illiteracy of most my clients.

[mythenjoseph]

What in the world do they base these figures on ? I exist comfortably with total monthly expenditures at about 1100 total? That’s everything (including property tax) I take in under 30K yearly and have no car note or house note? I thank God everyday for living so luxuriously and my families health? If I had 7 figures I’d be on the water putting around hugging the east coast and doing the loop AGAIN! (Did it once 35 years ago.)

[maddog55]

You don’t need a million or 1.46 million to retire unless you have.nothing else as far as income goes and you still have mortgage payments.

Wife and I each take less than 4% of our 401k/investment and they’ve gone up about 1/3 each in the 8 years we’ve been retired.

[Bobbyvotes]

I see a huge flaw in retirement budget needs
No mention is made of health??

The biggest expense a retiree faces is hospital and medicine bills. I began a regular exercise program at age 60. At that time the exercise was walking 5 rounds of 18 every week weather permitting. After quitting golf club membership 10 years ago it is simply brisk walks of 30 minutes every day for last 10 years. At age 86 I still have no medical expense and no hospital bills.

I can live comfortably on my social security check! Okay my house and car were paid off long ago. Having no debt is very good for keeping living expenses moderate.

[AppyPappy]

It depends on income.

[eyeamok]

you must be 100% DEBT FREE before considering retirement. I retired last year very comfortably with 3 paid for houses and not a nickel of debt. It took me about 6 months to adjust to my new retirement salary which is about half of what I earned annually. But still in the top 10% of wage earners, so we live very comfortably.

[VAFreedom]

one mill is nothing, i’ve moved my personal goal to 10 million now.

[Opinionated Blowhard]

This article has a lot of words without saying much. Who cares what people “believe”? And what does “retire comfortably” mean? Retirement is fairly simple. Determine what you spend in today’s dollars. Factor in inflation. Annuitize that from the date of your retirement over your longest estimated lifespan (not your average life but the extreme estimated life). Then factor in a cushion for emergencies and replacement costs for cars, furniture, etc. in todays dollars and an inflation factor. Then back out Social Security (if you are willing to bet it will still be around) and any pension you have. The true amount for most people who live in the Northeast or West Coast is more likely to be $2 million plus.

[oldtech]

A million dollars in my lifetime of working has not as yet(I’m retired now)been accomplished. Yet I get the idea that a million isn’t even a goal anymore. A hundred thousand would be an extremely high goal for myself & many others I know who I’m pretty certain will never attain. What’s real these days, I wonder.

[Responsibility2nd]

2 things.

1. That 4% rule is garbage. It’s designed for someone entering a 30 year retirement and expecting a low rate of return. Are you really planning to retire at age 55 and live to 95? Then yeah. 4% is your withdrawal rate. Me? I’m 68 and have been withdrawing at 6% for 5 years at a 17% growth return and I’m worried about all the money still left over if I kick off in my 80’s. I should probably withdraw even more.

2. Only 2% of American have or will have $1,000,000 at retirement. Basically this conversation is DOA for most of us.

[marktwain]

The Millionaire Next Door was published in 1996. A million 1996 dollars is equivalent to 2.11 million dollars in 2026.

Inflation eats up purchasing power.

[cyclotic]

We’re sitting at about a million right now plus house equity, a small pension and socialist security.

My advisor said that with our lifestyle, I can retire anytime.

Dragnis that I just got a nice promotion and I want to earn some of that money.