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All,
Retirement. That is a scary word for many. A RRVARC member that I have gotten to be quite close to, recently expressed concern about having saved enough to retire at some unspecified point in the future. He talked about paying his mortgage down and I told him that our financial planner says “You can’t eat your house.” He says retirement savings are more important than paying your mortgage off, especially if you have a low interest mortgage. Defining “low interest mortgage” these days might be a bit tricky, but back to the point.
Kathy and I are big fans of paying a dispassionate professional to advise you on all this sort of stuff. Our guy says “Don’t worry about having enough to retire. Let ME worry about that for you.” OK, we sleep better at night. So when I read the Wall Street Journal headline The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us. it kind of freaked me out a little bit. Few save that much, so that is a crazy unattainable number for most. But, the article is really on point and way more than the scary headline might imply.
When I was done reading it the article made perfect sense. So, this is again one of those WSJ articles with a gift link for subscribers to be able to share. Kathy and I wanted to pass it along so that you too might benefit from having access to it. Don’t have $1.46MM? Don’t worry, few do. Please don’t pass up reading the article because of that number, they cover accounts that are much, much, smaller. It is a short read too.
Enjoy,
Phillip
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