Is A Million Dollars Enough to Retire On?

Another question is even more important.

Is a Million Dollars Enough to Retire on?

 

By Elton Camp

 

We once thought that one who is a millionaire

Is a person who will never have financial care

But let’s say that you are getting ready to retire

Will this be enough to live on until you expire?

 

Assume that you draw out four percent per year

That’s a responsible figure is what we now hear

That would provide $40,000 to meet your need

A reasonable sum if house is free and no greed

 

No need to worry about retirement any more?

Doesn’t sound as bad as what I’ve heard before

But one really major problem does still remain

Just exactly how will that million you obtain?

 

Suppose that you work from twenty to sixty-five

To gain $22,000 average a year you must strive

Not all of this would you be compelled to save

You can include what return on investment gave

 

I have to wonder just where safe investment went

Certificates of deposit now pay about half a percent

On more risky type investments do you dare depend?

Loss of your funds will bring retirement to an end

 

Compare what your saving and investments are now

Is that likely to come to greatly increase somehow?

Could you right now save $22,000 by a year’s end

Even if, on doing so, your very life did depend?

 

So whether a million saved is enough, you see

Actually has very little relevance to most like me

So without a pension, can you now see just why

Some say they must continue to work till they die?