There’s something alluring about a million dollars.
For whatever reason, the amount holds a magical place in many people’s minds. After all, it is pretty cool to say that you are a millionaire. And when it comes to retirement planning, most people shoot for a million dollars as their end goal.
On the surface, that million dollars does seem like a lot of money. However, when it comes to retirement, it may not get you very far at all. There are a lot of variables when it comes to retirement planning.
And the biggest of which could be where you retire. According to a new report, you can retire on a million bucks, but it does depend on where.
You can explore our How to Retire section to learn more about retirement planning.
A New Survey
For many people, the idea of a million dollar hoard of savings for retirement is a dream. And since actually calculating a real “number” is very complex and involves numerous moving pieces, many investors still use the million dollar portfolio as their end goal. But is that amount actually enough?