A million dollars isn't what it used to be. —Howard HughesHow true is that when it comes to your retirement nest egg? A cool $1 million is a still big chunk of change. But is it enough to cover today’s retirement expenses? Just how many years could your dream retirement last on $1 million? A big part of that answer depends on where you retire.
Location is just one variable in the complicated picture of retirement expenses. Several other factors also affect how long a $1 million nest egg could last.
Knowing what those expenses are and how they fit into a $1 million retirement scenario is the focus of this month’s Visual Insights Newsletter.
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No matter when you want to retire, or what you want to do during your golden years, you can expect health care costs to take up a good portion of your retirement income.
Taxes and lifestyle are also significant expenses to consider when you’re thinking about your retirement goals and whether $1 million is really enough to retire on.
Go ahead and click here to see how far $1 million could go in retirement these days.