Pinpointing the exact amount that you need to save to retire comfortably is a difficult task — and reaching that goal may be even harder.
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How Long $1 Million in Retirement Will Last in Every State
Pinpointing the exact amount that you need to save to retire comfortably is a difficult task — and reaching that goal may be even harder. According to a recent survey conducted by Schwab Retirement Plan Services, the average American needs about $1.9 million to retire comfortably. This number is way out of reach for many Americans, considering the average amount Americans have saved is a tick above $168,000. However, $1 million might be more doable.
The dream for many retirement savers is to accumulate $1 million.
If you manage to accumulate a retirement nest egg of $1 million, you're in a rare club.
Although many savers look to accumulate $1 million in their retirement nest eggs, the reality is that $1 million can go a lot further in some states.
At first glance, building a net worth of $1 million might seem unattainable, but it’s more realistic than you think.
