Is $1 Million Enough for Retirement in America?
The average American needs their retirement savings to last them 14 to 17 years. With this in mind, is $1 million in savings enough for the average retiree?
Ultimately, it depends on where you live since the average cost of living varies across the country. Using data compiled by GOBankingRates.com, this graphic shows how many years $1 million in retirement savings lasts in the top 50 most populated U.S. cities.25
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Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.
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Author: Michael Mercurio, Esq.
Articles have been Reprinted with permission from the charlotte observer and Mike Hunter.
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