Dec 29, 2022
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 recent article detailing the fears many Americans have and talk about how you can combat some of these worries.
Here’s some of what you’ll learn in this episode:
- The key stats from this CNBC article that we want to highlight. (3:31)
- The impact of inflation on the amount you’ll need to have saved. (6:34)
- The reasons why you should pay attention to this article. (8:40)
- Why the target of $1 million might not actually be meaningful for you. (12:27)
- Ways that you can combat these fears. (17:49)
- How we help clients understand how much they’ll need for retirement through income planning. (20:06)
Read the CNBC Article: https://www.cnbc.com/2022/12/02/35percent-of-millionaires-say-they-wont-have-enough-to-retire-report-finds.html
Additional link used on this episode: https://www.usinflationcalculator.com/inflation/current-inflation-rates/#:~:text=The%20annual%20inflation%20rate%20for,ET.
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