Why $5 Million Isn't Enough to Retire, Yet
My multimillionaire friend recently let it slip that his household's net worth surpassed $5 million last month. In our relatively reasonable cost of living part of the country, that should be enough to sustain a fairly comfortable lifestyle more or less indefinitely.
When I asked him whether he was thinking of retiring, he let me know that he couldn't quite make it work out yet, even with that substantial net worth. When I pressed him for why that was his perspective, he made it clear that he didn't really need more money to retire, but rather that he needed a similar net worth in a more accessible format.
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Source Fool.com
