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Are You On Track?

This article was written by in Wealth and Affluence. 2 comments.

MSN Money – Are you on track to retire rich?

According to their charts, you could say I’m on track. The issue I have with this, however, is they use $1,000,000 at retirement as a goal. However, by the time I retire, due to inflation and to increasing life expectancies, $1,000,000 is not going to be enough to retire on.

I don’t think I could see myself fully retiring, anyway. It’s so far away from me, who knows whether I will want to stop working. If I am getting a great satisfaction from my job and I am still capable of doing it, I may not go until I am forced to, at which point I might just find another similar job. It’s too early to tell what I will want at that point of my life.

Updated March 5, 2014 and originally published September 26, 2003. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 1 comment }

avatar Darren R. Sussman

Also, I remember reading an article at least a year ago that said that $1,000,000 was no longer a high enough goal for retirement and that the minimum should really be $2,000,000. And, you’re right, by the time we’re of retiring age, it’ll probably be closer to $4,000,000. :/