Why Millionaires Still Can't Retire: The Shocking Impact of Inflation & Today's Economy
Download MP3In this episode, we explore an eye-opening reality that even millionaires are facing when it comes to retirement planning.
🔍 Key Points Covered:
- Over one-third of millionaires believe it will take a miracle to be ready for retirement.
- Having $1 million or even $2 million doesn't guarantee financial security in retirement.
- Doing the math:
- $2 million spread across 20 years equals about $100,000 per year.
- That’s only $8,000 per month — before taxes, insurance, and healthcare costs.
- Inflation significantly reduces your spending power over time.
- Many people underestimate how long they will live post-retirement — and how much it will cost.
- Planning ahead is critical. Even with seven-figure savings, you need a strategy to make your money last.
💬 Ask yourself:
What are your retirement plans?
Will your savings be enough if you want to live more than 20 years after retiring?
What are your retirement plans?
Will your savings be enough if you want to live more than 20 years after retiring?
