The average American needs their retirement savings to last them 14 to 17 years. With this in mind, Visual Capitalist’s Carmen Ang asks (and answers below), is $1 million in savings enough for the average retiree?
Ultimately, it depends on where you live, since the average cost of living varies across the country. This graphic, using data compiled by GOBankingRates.com shows how many years $1 million in retirement savings lasts in the top 50 most populated U.S. cities. Editor’s note: As one user rightly pointed out, this analysis doesn’t take into account interest earned on the $1 million. With that […]
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