Is Retirement Dead?

It’s getting too expensive to stop working

Millions of people cannot retire. People are returning to work because they can’t afford retirement. A growing number of people believe they will work for the rest of their lives.

Rising inflation and stagnant wages add fuel to this narrative. The pandemic made it more challenging to save up and retire. Some people became super savers during the pandemic. They’ve considerably reduced expenses. However, the costs of goods keep going up.

The Problem With The $1 Million Benchmark

Most people think $1 million is all they need for retirement. Everyone would love to have that type of portfolio heading into retirement. However, $1 million may not be enough to retire anymore.

People live longer, and their money loses purchasing power each year. Think about what $3,000/mo got you ten years ago. Now, think about what you can buy with that money today. Just last year, your $3,000/mo had more muscle power.

What do you think will happen to the purchasing power of $3,000/mo ten years from now? 20 years from now? Whenever you plan on retiring?

Social security isn’t enough either. Social security holders will see a 5.9% boost to their checks in 2022. People celebrated this…