Can You Retire on $1.46 Million? We’re Breaking It Down!

In this episode, Nika and Kian will discuss one of the hottest topics out there: retirement savings. Are we saving enough? Headlines say we need over $1.4 million to retire comfortably, but how realistic is that? We'll break down the numbers and explore what it actually takes to retire well in the U.S., then compare it to how Canadians are planning their golden years based on well-known articles. We'll dive into how inflation, longer lifespans, and Social Security uncertainties are impacting our savings goals.

In this episode, Nika and Kian will discuss:

• Is $1.46 million really the magic number for a comfortable retirement in the U.S.?
• How does inflation, longer lifespans, and Social Security uncertainty impact your retirement savings?
• What can the U.S. learn from Canada’s approach to retirement savings?
• Are Canadians saving more for retirement than Americans, and why is there a difference?
• How can you use the 4% rule to ensure your retirement savings last?

This episode is packed with valuable insights on long-term financial planning, strategies to close your retirement savings gap, and the critical role of adaptability in an ever-changing economic landscape. Get ready to shift your mindset, rethink your retirement goals, and take a fresh look at how you plan for your financial future! 

Sources:

1. https://www.fool.ca/investing/how-much-do-you-need-to-retire-in-canada/
2. https://www.covenantwealthadvisors.com/post/is-2-million-enough-to-retire-at-60
3. https://www.cbsnews.com/news/retirement-savings-how-much-americans-need-1-46-million/