Do You Need $1 Million to Retire? Maybe.

Do You Need $1 Million to Retire? Maybe.

When we talk about saving for retirement, we tend to throw around the $1 million figure as a target to aim for. Why $1 million? Perhaps people are drawn to that number because it's nice and round, and also substantial. After all, $1 million seems like it would make for a pretty comfortable retirement.

Of course, there are also those folks who insist that it's possible to get by on a lot less. And in some cases, that may very well be true. But for the most part, even if you're an average earner, that $1 million might actually be the right number to save for.

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Source: Fool.com