Do You Need $1 Million for a Comfortable Retirement? Here's the Truth.
While it's a nice number to aim for, don't assume you're doomed if you don't reach it.
Overview
If you're aiming to save $1 million by the time you retire, you're probably in good company. A lot of people tend to fixate on that specific number because, well, it sounds pretty darn great. To be fair, it is a lot of money, which means that if you hit that goal, you could end up in a great position to enjoy retirement to the fullest.
That doesn't mean your senior years are doomed if your retirement account balance never hits $1 million. You may be able to get by on much less, depending on what your needs look like.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.