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How Much Do I Need to Retire?

May 17, 2018

From the Go Banking Rates website

A lot goes into figuring out how much money you need to retire, but one common piece of advice is that you need about $1 million — and some sources suggest even more. In fact, 16 percent of people believe you need at least $2 million, according to a recent Transamerica study.

You can spend your golden years living on less than $1 million — and still live well. To figure out how much you’ll need to retire, you must assess your lifestyle needs, understand your risk tolerance, consider the effects of inflation and most important, learn how to create a budget and follow it.

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