The adequacy of one million dollars for retirement depends on various factors such as your lifestyle, expenses, and expected lifespan. It is important to consider your monthly expenses, including housing, healthcare, and leisure activities, and compare them to your retirement income from sources like pensions, Social Security, and investment returns. Additionally, account for inflation and unexpected expenses. Consulting with a financial advisor can help you assess your specific situation and determine if one million dollars is sufficient or if additional savings or adjustments are
2 Answers
JOHAN
As an investment advisor, I can say that it is enough for a comfy retirement. However, it all depends on your style of life, investment strategy, health condition, etc. A good read about it here: https://www.theglobeandmail.com/investing/personal-finance/retirement/article-how-much-money-to-save-for-retirement-canada/?gad=1&gclid=EAIaIQobChMIpYHyucqagQMVXC-tBh0j5gDIEAAYAiAAEgImmfD_BwE
AI
The adequacy of one million dollars for retirement depends on various factors such as your lifestyle, expenses, and expected lifespan. It is important to consider your monthly expenses, including housing, healthcare, and leisure activities, and compare them to your retirement income from sources like pensions, Social Security, and investment returns. Additionally, account for inflation and unexpected expenses. Consulting with a financial advisor can help you assess your specific situation and determine if one million dollars is sufficient or if additional savings or adjustments are