how much money do you need to retire
Paul Farrell is one of the most popular writers on Marketwatch.com. Many of his articles are focused on “gloom and doom,” some list the reasons to “buy now,” and an even smaller number address money and lifestyle. The money and lifestyle articles are Paul Merriman’s favorites, although he suspects they are the least read. A recent article, “8 Secrets to help you retire today and enjoy it!” gives a little of Farrell’s path to his present balance between work and play.
In this podcast Paul Merriman takes on Farrell’s “Lesson No. 1. No, you don’t need a million bucks.” While Farrell makes a reasonable case that you don’t need a million dollars to retire, Merriman argues that’s a dangerous long-term goal. His advice to young people is that they take steps to retire with at least $2 million. If they don’t make that goal, they can adjust; but we must be careful what we wish for and aim for.