Thursday, April 12, 2018

How to figure out how much money you need to retire

How to figure out how much money you need to retire: Although $1 million is the oft-cited amount needed to retire comfortably, data shows it might not be enough. According to a new report from personal finance site GOBankingRates, depending on where you live, retirees could blow through $1 million in as little as 12 years.

And GBR notes that since the average person retires at age 63 and has a life expectancy of about 85, "Americans should plan to spend 22 years in retirement."

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