While some argue it’s not enough – and others argue it’s needlessly high – the figure of $1 million is frequently cited as the amount to strive for when it comes to retirement savings. And with the average 401(k) and IRA accounts having balances of around $100,000, today’s article lays out scenarios to get from this starting point to $1…
Think you need $1 million to retire? The author of today’s article calls that belief the “million-dollar myth” – and shows how, using a “4-pack” of closed-end funds with an average dividend of 8.5%, you can retire on less than half that amount. For the four funds in question – and what the author sees as a big reason for…
You need $1 million to retire. Make that $2 million. Social Security will not be solvent much longer. Your expenses will go down in retirement. These are some of the prevalent retirement rumors the author of today’s article highlights that can have a detrimental effect on the retirement planning of those who subscribe to them. To read more – including…
The oft-cited figure for how much you need to build up in your nest egg in order to retire comfortably is $1 million – with some experts advocating a $2 million target! However, the author of today’s article believes that, “while that theory might seem reasonable on paper, in practice, it leaves a lot to be desired” – and he…