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The Magic Number for Retirement is....

January 18th, 2010 at 05:13 am

You'll need at least $500,000 to be happy in retirement, say retired respondents to a recent http://finance.yahoo.com/retirement/article/108520/retiremen...of over 24,000 respondents.

Survey respondents' satisfaction with their retirement peaked when their net worth was between $500,000 and $1 million. Having a much higher net worth didn't translate into an extremely happy retirement.

% of retirees who said they were "very satisfied" or "completely satisfied" with retirement, based on net worth:

Less than $250,000 = 51% said they were happy.

$250,000 - $499,999 = 64% said they were happy.

$500,000 - $999,999 = 74% said they were happy.

$1 million - $1.499 million = 77% said they were happy.

$1.5 million to $1.99 million = 79% said they were happy.

$2 million + = 78% said they were happy.

What's your magic number for retirement?

5 Responses to “The Magic Number for Retirement is....”

  1. ceejay74 Says:

    That's very interesting! Did it specify whether that was $500K per individual or per family? I scanned the article and didn't see any reference to that, so I assume it asked about individual net worth, not the nest eggs of couples.

    Also interesting was the note near the end about how it didn't make a huge difference whether you invested conservatively or aggressively, as long as you diversified. That's important to keep in mind when getting overwhelmed and/or intimidated by all the investment choices out there.

  2. Ima saver Says:

    I would like enough money to live on the interest. At This point, I would need about 2 million!

  3. boomeyers Says:

    Since we just cashed in part of our 401K, we are a long way away from being happy!

  4. Tabs Says:

    I've been wondering about something like this for a while.

    Thanks for sharing! Now to get to work. Big Grin

  5. My English Castle Says:

    So that 1 million number that was so much talked about is still current? I dig the swim caps; they would make anyone happy!

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