Home > The Magic Number for Retirement is....

The Magic Number for Retirement is....

January 18th, 2010 at 01:13 pm

You'll need at least $500,000 to be happy in retirement, say retired respondents to a recent

Text is Consumer Reports Retirement Survey and Link is
Consumer Reports Retirement Survey 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. Broken Arrow 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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