The Game Plan
People like to look at a million dollars as the magic number for retirement, but the truth is seven figures won’t even last you 10 years in certain areas of the country.
So how much will you need to be prepared for retirement? Today we’ll walk you through the steps we use to figure out that number for clients and we’ll use a recent Yahoo! Finance survey to show you how long a million dollars would last depending on where you live.
There are a number of factors that go into the equation but proper planning can help you determine exactly what you’ll need to have saved.
Listen to the full episode or click on the timestamps below to skip around to specific topics.
The X’s & O’s
Check out the timestamps below to skip around to specific topics on the show.
[1:01] – Yahoo! Finance survey results
[2:48] – How much do you need?
[3:54] – Living in LA and other big cities
[8:19] – Mid-size to small cities
[9:16] – Determining what your amount is
[10:16] – Income is essential
[11:11] – Convincing a client to enjoy a trip and spend
[12:15] – Changing your mindset in retirement
[14:12] – How to make sure your money lasts