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If you retire at 63, you will need money to last for several decades.
But is $5 million more than you need?
We asked financial experts to weigh in on Grant Cardones $5 million magic retirement number.
Heres what they think.
Most note that it is not a one-size-fits-all approach.
Things like where you live and your desired retirement lifestyle may all affect how much money you need.
The missing piece of that equation is how much you spend.
The majority of Americans retire comfortably with substantially less than $5 million.
She added, We serve many client households who retired with less than $1 million.
Instead, they value time with family and the freedom to wake up without an alarm clock.
Consider Moving Abroad
It is undeniable that retiring in certain places in the United States is expensive.
Such purchases allow them to secure permanent residencyor even citizenshipafter a few years.
Is $5 Million the New Magic Retirement Number?
With more people considering early retirement and living longer, their money needs to stretch further than ever before.
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