Is a million really enough?

Updated: Nov 13

Updated 02/01/2021


Things aren't quite what they used to be.


We can't underestimate the power of compounding and the need to forecast the money we will need annually in retirement “after inflation” has been applied (which can look  far different from what we may have been thinking).


Inflation


Just to make the point,  I  met with a 28 year old client )about 3 years ago) who was earning 100K at that time in today’s dollars and wanted to have the same 100K a year (gross) lifestyle at age 65. Crazy, but at the time we estimated that he would need an income stream of $208K a year to create that same income level 37 years in the future (assuming inflation was 2% annually).