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What’s the magic number your savings needs to hit, so you can retire?

$1.3 million?

That’s what most folks say these days.

And most are falling short for one reason or another.

Part of the problem is just the scope of it all.

Looking out that far and seeing the bottom-line numbers can bewilder anyone. 

If that’s happening to you, here’s how to break it down into bite-sized numbers — and see what it really takes to sustain your retirement income without dipping into your principal.

Could you live on $80K, $90K, or $100K a year as a retiree?

It is possible to generate that amount in returns from your nest egg if you sock away enough now. And if you can live on the returns alone when you’re no longer working, you could take a lot of the worry out of your retirement years.

That’s true no matter how much you need to live your best life in retirement.2 

Want to read more about how to plan for your retirement? Click here to check out the rest.


Sources:

1. https://www.cnbc.com/2023/06/26/americans-think-they-need-nearly-1point3-million-retire-comfortably-study.html 

2. https://www.cnbc.com/2023/07/15/savings-you-need-to-earn-80k-90k-100k-in-interest-for-retirement.html 


Post Author: Robert Jacobs