Sure, it sounds like a lot of money, but $1 million just won’t buy what it used to. In fact, that cool million won’t even sustain you for the duration of your retirement.
Unless your retirement is unusually short, that is. And most people hope that won’t be the case.
Statistically, it won’t—which means those bucks have to last for a long, long time. In fact, the average American retirement age, according to GoBankingRates.com, is 63, and retirees’ life expectancy is 85—which means that the average American will spend 22 years retired.
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