Lee has been working in the financial industry for over 16 years, and during that time, has encountered a wide variety of financial planning questions. However, there is one question that seems to come up more frequently than any other: “How much do I need to retire?” Is one million enough for everyone? Although it appears to be a straightforward question, we’re going to dive into the complexities of this topic today.

In today’s discussion, we will explore the significance of tracking your expenses leading up to retirement and why a million-dollar retirement fund may not be the optimal amount for everyone. While it’s tempting to think of retirement savings as a one-size-fits-all formula, it’s essential to consider individual circumstances and lifestyle goals when determining how much money is needed to retire comfortably.

Stay tuned to gain valuable insight into budgeting, planning, and more!

Here’s what we’ll discuss in this episode:

  • Why the question “How much do I need to retire?” is difficult to answer. (2:03)
  • Why a million dollars may not be enough to retire on for everyone. (3:11)
  • The importance of keeping track of your expenses. (5:34)
  • Lee’s challenge for those looking to retire in the relative future. (9:29)

If you have any questions about what we discuss, set up a meeting with us anytime by visiting TalkWithLee.com.