Is a Million Dollars Enough To Retire On
Is a Million Dollars Enough to Retire on?
By Elton Camp
We once thought that one who is a millionaire
Is a person who will never have financial care
But let’s say that you are getting ready to retire
Will this be enough to live on until you expire?
Assume that you draw out four percent per year
That’s a responsible figure is what we now hear
That would provide $40,000 to meet your need
A reasonable sum if house is free and no greed
No need to worry about retirement any more?
Doesn’t sound as bad as what I’ve heard before
But one really major problem does still remain
Just exactly how will that million you obtain?
Suppose that you work from twenty to sixty-five
To gain $22,000 average a year you must strive
Not all of this would you be compelled to save
You can include what return on investment gave
I have to wonder just where safe investment went
Certificates of deposit now pay about half a percent
On more risky type investments do you dare depend?
Loss of your funds will bring retirement to an end
Compare what your saving and investments are now
Is that likely to come to greatly increase somehow?
Could you right now save $22,000 by a year’s end
Even if, on doing so, your very life did depend?
So whether a million saved is enough, you see
Actually has very little relevance to most like me
So without a pension, can you now see just why
Some say they must continue to work till they die?
Copyright © Elton Camp | Year Posted 2011
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