How Long Will My Retirement Last on $1 Million?

By Rachel Hebert | March 1, 2018

So the kids have left the nest? Let the dreams begin!

We love being in the Real Estate business and watching those dreams come true. With 75 years of experience, we’ve heard thousands of stories and helped thousands create the life they love. Creating that life ends with a happy, secure retirement, right? We agree! After a lifetime of hard work, you deserve to put your feet up and live a life of leisure/adventure. So, let’s say you save up a cool million dollars. The question you’re now asking yourself is: how long will my retirement last? Let’s find out!

How Long Will My Retirement Last

How long will my retirement last?

When you close your eyes and think about your retirement, what do you see? Do you and your spouse have your toes in the sand? Are you fly fishing in Colorado? Is the top down as you cruise the Pacific Coast Highway? Are you finishing writing that book you started years ago? We want you to have all of this and more! Luckily, in this day of data analysis, we can see how much of this you can accomplish if you saved up $1 million.

 

Related: Is Real Estate a Part of Your Wealth Plan?

 

The experts at HowMuch have crunched the numbers using Cost of Living Indexes (2017 Q2) and the average expenditures of people 65+ to show how long $1 million can last in each state. Breathe a sigh of relief Louisianans and Mississippians, you can do quite well! In fact, in Mississippi, you can stretch it the farthest (25 years, 6 months). Coming in at 19th is Louisiana where you can make $1 million last 23 years and one month.

With this number in mind, how does your retirement dream look now? If you’d like to talk about your wealth plan and how real estate can play a huge factor, let’s chat today!

 


 

We’re local. We’re global. As an affiliate of Leading Real Estate Companies of the World® and Luxury Portfolio International®GARDNER REALTORS has connections to the very best real estate brokers who can help you get ready for retirement!

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