Is $1 Million Really Enough to Retire? Here's How to Find Out.
Retirement is not cheap, and it's only getting more expensive for many older adults. Considering the average retired worker collects less than $2,000 per month from Social Security, many retirees will need to rely heavily on personal savings to make ends meet.
But just how much do you need to retire comfortably? A nest egg worth $1 million is a common benchmark, but that figure won't fit every retiree. Some seniors may be able to get by with less, while others could need far more just to survive.
While your goal will depend on your unique needs, there are a few steps you can take to determine whether $1 million is enough -- and if it's not, how much you should be saving.
Source Fool.com
