“If you’ve got $1 million tucked away in your retirement savings by the time you’re ready to retire, you won’t starve, but you may not be able to live out your dreams either.”
Idiotic dichotomy. Retirement is now “living your dreams”?? I thought it was about living comfortably without working. There’s a lot of other possibilities between not starving and living your dreams.
While not the best investment during your prime earning years, annuities are a decent avenue while nearing or in your retirement years. You give up some top end results for security. Athene has some top rated annuities which generate decent monthly income with no market downside risk.
If you take up sky diving and motocross as hobbies.
If you take up sky diving and motocross as hobbies.
Taking $600,000 from the pile and renovating my 8 unit apartment building in the hippest part of town. Will get $1250 a month per unit. 35% expenses, $78000 per year net, property appreciating.
There are also "surprises" that come along... medical bills, home repairs, kids' emergencies, etc.
The best answer to the "how much should I have saved" question is "as much as you can possibly manage".
bkmk
If i only had 1 mill have to quit country club