How long could $1 million last if you retired tomorrow?
“A million dollars isn’t what it used to be.”
— Howard Hughes
How true is that when it comes to your retirement nest egg?
A cool $1 million is still a big chunk of change.
But is it enough to cover today’s retirement expenses?
Just how many years could your dream retirement last on $1 million?
A big part of that answer depends on where you retire.
Location is just one variable in the complicated picture of retirement expenses. Several other factors also affect how long a $1 million nest egg could last.
Knowing what those expenses are and how they fit into a $1 million retirement scenario is the focus of this month’s Visual Insights Newsletter.
No matter when you want to retire, or what you want to do during your golden years, you can expect health care costs to take up a good portion of your retirement income.
Taxes and lifestyle are also significant expenses to consider when you’re thinking about your retirement goals and whether $1 million is really enough to retire on.
Go ahead and click here to see how far $1 million could go in retirement these days.
Sincerely,
Lee Hyder
Lee Hyder & Associates Wealth Management, LLC
(330) 836-7800
Learn More at LeeHyder.com
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P.S. What do you think you’ll spend the most time and money on in retirement? If you’ve already retired, what expenses have surprised you the most? Hit “reply” and tell me. I’d love to hear your thoughts, predictions, and experiences.
Lee Hyder & Associates is registered as an investment adviser with the state of Ohio and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific situation with a qualified tax professional.
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