Ep 85: Is $1 Million Enough for Retirement?

<p>Having a million dollars saved for retirement isn’t providing the type of confidence that it used to for pre-retirees, and many people feel like they’ll need a little luck to be successful in retirement. Is that really the case and what’s a more realistic target number today? We’ll take a look at a <a href= "https://www.cnbc.com/2022/12/02/35percent-of-millionaires-say-they-wont-have-enough-to-retire-report-finds.html"> recent article</a> detailing the fears many Americans have and talk about how you can combat some of these worries.</p> <p> </p> <p><strong>Here’s some of what you’ll learn in this episode:</strong></p> <ul> <li>The key stats from this CNBC article that we want to highlight. <strong><em>(3:31)</em></strong></li> <li>The impact of inflation on the amount you’ll need to have saved. <strong><em>(6:34)</em></strong></li> <li>The reasons why you should pay attention to this article. <strong><em>(8:40)</em></strong></li> <li>Why the target of $1 million might not actually be meaningful for you. <strong><em>(12:27)</em></strong></li> <li>Ways that you can combat these fears. <strong><em>(17:49)</em></strong></li> <li>How we help clients understand how much they’ll need for retirement through income planning. <strong><em>(20:06)</em></strong></li> </ul> <p> </p> <p><strong>Read the CNBC Article:</strong> <a href= "https://www.cnbc.com/2022/12/02/35percent-of-millionaires-say-they-wont-have-enough-to-retire-report-finds.html"> https://www.cnbc.com/2022/12/02/35percent-of-millionaires-say-they-wont-have-enough-to-retire-report-finds.html</a></p> <p><strong>Additional link used on this episode:</strong> <a href= "https://www.usinflationcalculator.com/inflation/current-inflation-rates/#:~:text=The%20annual%20inflation%20rate%20for,ET"> https://www.usinflationcalculator.com/inflation/current-inflation-rates/#:~:text=The%20annual%20inflation%20rate%20for,ET</a>.</p> <p> </p> <p><strong>Read more and get additional financial resources here:</strong> <a href= "http://lifemoneyshow.com">http://lifemoneyshow.com