Wednesday, May 30, 2012
IS A MILLION ENOUGH?
2:15 PM | 
Posted by
pensionfinancialservices |
“I want a man who’s kind and
understanding. Is that too much to ask of a millionaire?”—Zsa Zsa Gabor
Today, Zsa
Zsa’s question might very well reinforce a more pressing reality for present
and future retirees. A $1,000,000 net worth (excluding equity in their homes)
for those fortunate enough to have it--and according to research noted in an
excellent New York Times piece by
Charles Delafuente, that’s just over 7 percent of the 117 million American
households-- hardly means what it once did years ago.
Most
certainly realize how inflation through the years has diminished the dollar,
but there’s less certainty even for these millionaires about this bottom-line
question: how to make this amount last?
“Folks with
a million in a well-balanced portfolio can be comfortable,” says one financial
planner quoted in the article, “but it’s not a lavish lifestyle. The idea of a
millionaire being someone who is really rich, that goes back to the Roaring
‘20s and the Great Depression. Three percent inflation over 30 years means you
need 2.4 dollars for every dollar that you’d need now.”
So if
there’s a million in your retirement well (or even an amount considerably
less), how do you keep it from running dry? One option is buying an annuity,
and the experts at Pensions Parameters Financial Services, Inc.—demonstrating
peerless expertise to go along with the kindness and understanding that Zsa Zsa
would appreciate--can discuss with you the pros and possible cons of taking
that road.
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1 comments:
Great content.
Thanks for sharing.
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