Do you know how much money you need to retire?
If you’re like most folks, you might think the answer is “too much,” and for good reason. It seems like every day we hear another study or pundit saying we need millions to do so comfortably.
That’s why I was surprised to see a new study out from NetCredit, an online money lender, saying most people would need less than a million dollars to retire. In fact, the company said it’s possible to clock out on just $702,330 in the US as a whole, and in some states even less–like about $470,000 in Mississippi.
These numbers are a lot more encouraging than what we usually hear, but do they add up? Let’s take a look.
This post originally appeared at Contrarian Outlook.