We Saved $3 Million for Retirement — Is It Enough to Live the Life We’ve Always Imagined?

Core Insights - The article discusses the varying financial needs for retirement, emphasizing that there is no universal "magic number" for retirement savings, with estimates ranging from $1-2 million for a modest lifestyle to $12 million or more for a luxurious one [1][2][3] Group 1: Retirement Savings and Lifestyle - Different retirement lifestyles require different financial preparations, with some individuals needing significantly more savings to support their desired lifestyle [2] - The article highlights the importance of balancing passive income and withdrawals from retirement savings against expected expenses to determine the right retirement figure [3] Group 2: Case Study of a Reddit Couple - A Reddit couple has saved approximately $3 million in retirement accounts, with a total net worth exceeding $4.5 million, indicating a substantial financial position [5][9] - The couple employs a conservative investment strategy, utilizing CD laddering to maintain flexibility while aiming for a middle-class retirement lifestyle [6][9] - They anticipate an inheritance of $2 million, projecting their net worth to reach between $6-8 million within the next decade, which is deemed sufficient for their retirement needs [7][9]