I was reading an article today where various people were surveyed on how much money they believe that they would have to save in order to be able to retire comfortably and the figure was close to $1,000,000. Unless I read it wrong, from what I gathered that didn’t account the current assets that people would have such as a house which made me think that everyone must have some pretty high standards when it comes to retirement.
I would think the average person would need about $300,000 or so to live comfortable with anything over that being more of a luxury lifestyle. While I usually try to avoid the borderline way of planning finances to avoid the just getting by mentality, one million in pure savings seems like a lot to consider as a type of necessity to retire.
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