A million dollars used to be the ultimate target for retirement portfolios. Retiring as a millionaire brought status and confidence that you could live comfortably during your golden years. If you retired with $1 million in 1970, you probably didn’t have to worry about your nest egg running out, even with a lavish lifestyle. It would be like retiring with $6.9 million today.1
Retire with $1 million in the ’80s, and it would have been like retiring with $3.35 million in 2021.1 And in 1990? A cool $1 million would have gone twice as far as it does these days. Clearly, $1 million doesn’t go as far as it used to. Just how far could it go these days?
The answer depends on how and where you live.
In retirement, as in real estate, location is everything (or, at least, it’s a lot). Let’s see how long a $1 million nest egg could last where you want to retire — or wherever you’ve already retired.
If you would like more information on the ins and outs of planning for your retirement, schedule a complimentary consultation with us today and we can help you plan for your dream retirement.