Saving Grace: Retirement 'Magic Number' Rising

Episode Transcript

Speaker 1 (00:00):
Financial experts now put the retirement magic number at one
point five million dollars. That's what someone needs to retire comfortably.
Financial planner Mitch Kramer says that number has gone up
noticeably in recent years.

Speaker 2 (00:11):
Prior administration was very big on pro government. It really
kind of fan the flames of inflation. The pandemic pumped
a lot of federal dollars into our economy, and there's
some question if, whoever, we will ever get back to
a two percent inflation rate.

Speaker 1 (00:25):
But he adds every situation is different depending on where
you live. For instance, in Texas, one point five million
would last the average retiree forty six years. Cory Jolson,
who's Radio seven forty KTRH