Looking to Retire With $1 Million? You May Need to Aim Higher

Looking to Retire With $1 Million? You May Need to Aim Higher

It's hard to tell someone exactly how much they'll need for retirement because personal situations will vary widely. $1 million has traditionally been a great threshold for many people to aim for when saving for retirement, but here's why you may want to aim higher. One way to determine how much you'll need in retirement is by first deciding how much you'll need annually using the 80% rule.