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Tag Archives: being poor in retirement

Don’t Be Happy With Average When It Comes To Retirement

how much do you need to retire?

I read an article last week from the Wall Street Journal that said three quarters of Americans nearing retirement had less than $27,000 in their retirement accounts, and one third of those have no sort of retirement account at all. One of my first thoughts after reading this was, “Wow, I must be doing pretty well with my retirement! ” On second thought, maybe I shouldn’t be so proud to be ahead of the pack when the pack is doing so poorly. It’s kind of like winning a weightlifting competetion against kindgergarteners. It really means little looking at how well prepared we are compared with the majority. If you don’t prepare for your own retirement needs, all the statistics in the world won’t matter. You can’t be happy with average when it comes to retirement. But How Much Do I Really Need For Retirement? Isn’t that the million dollar question? From experience with my own family, I can tell you that you can get by on very little, but you will probably have to live in a very low cost of living area. Plan on not traveling or having many hobby expenses, and I really hope you like to cook your ...

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