Retirement myth: $1 million dollars
I need $1 million to retire.
True 
False
Reality
You might not need 1 million dollars. But you
probably need more than you think.
$1 million = $40,000 per year over 30 years of
retirement*
Does an annual salary of $40,000 align with your
retirement lifestyle goals?
Something
to think about
Food, alone, will probably account for more
than you think. A realistic example for a family of 2 is:
$10 per meal x 3 meals per day x 30 years of
retirement = $328,500
*A 4% withdrawal rate is
assumed. If contributions were made pre-tax, this amount would be lower.