Never Retire - Can You Save $1.1 Million?

The bad news and the heartening good news

According to a recent retirement survey of 1,000 workers, Americans say they’ll require $1.1 million for a comfortable retirement.

One of four say there’s little to no chance they’ll get there. More than half predict they’ll wind up with less than $500,000.

Seemingly bad news. And probably worse the older you are. Or the longer it took to acknowledge and embrace this reality.

While we do address the leadup, this newsletter focuses on what to do once you acknowledge and embrace the reality that you’ll Never Retire.

Now, the good news—

First, housing.

We’ve been beating that critical drum a lot lately.

However you go about it, goal number one—no matter your situation—should be no housing payment (rent or mortgage) in your sixties, if not sooner.

My Dad worked until he was 70 to get rid of the mortgage and amass adequate supplemental savings.

That’s one way. While I’m proud of him for doing this (he often called with updates as well as for advice and encouragement), it’s not the path I’m following.

I discussed my stratgy around housing here last month.