Nathan Gesner, Broker / Property Manager (American West Realty and Management)

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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Depends on the kind of lifestyle you plan to live and your HEALTH. 1 - 1.5m may or may not be enough for that long period of time. Depends on how that money is earning money for you, though.

Fortunately, in our business we can work till we die if we're healthy enough to do so. 

Dec 03, 2017 08:19 AM
Anthony Acosta -
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Depends on the lifestyle you want to have.

Dec 03, 2017 11:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

As Candice A. Donofrio said... much depends on lifestyle and health. Where you live can also impact how much you need. I'm pushing 70 and not retired yet so I don't know about that "retiring too early." 

Dec 03, 2017 08:41 AM
Kasey & John Boles
Jon Gosche Real Estate, LLC - - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

$1M really isn't a lot of money. Tons of variables here. If someone has $1.5M and it is making money every year that is different than just $1.5 static savings. Having that PLUS a passive income generating source (rentals for example) may work. Other questions debt? House payment? Without debt one can live on a lot less money. What kind of lifestyle? Want to just live a bare minumum lifestyle or be able to travel and do a bunch of stuff. That all costs money. -Kasey

Dec 03, 2017 08:34 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I don't see how $1 million could possibly be enough....

Dec 03, 2017 08:11 AM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

What is the lifestyle a retiree wants? Does this involve travel? And what is the retiree's health? And what debt are they carrying? Are they still paying a mortgage? Taxes? Property Taxes?  And where do they live? Some communities are much more affordable than others. I would suggest saving more if possible.

Dec 03, 2017 11:59 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Nathan Gesner The medium household income in 2016 was approximately $59,000. Let's say you are in a position where you can live on 80% of your household income. That leaves $47,200 per year. The average life expendency for a male is approximately 85 years of age. If you retire at 62, you will need $1,085,600 to retire. If you live beyond age 85, you better hope Social Security is still around.

Disclaimer: These are my guesstimates and should not be relied on as a basis for retirement.

Dec 03, 2017 11:19 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

With the cost of health insurance we cannot afford to retire 

Dec 03, 2017 10:15 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Obviously it depends on your lifestyle. I doubt I will ever fully retire but I know people who have with NO savings and only SS for income yet they are very happy.

Dec 03, 2017 08:19 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

If you eat small and sit around playing video games all day, it might be enough.  If you take $30,000 cruises around the world and fly on private jets, probably not.

Dec 03, 2017 11:54 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Consider your lifestyle + pay off mortgage + eliminate all debt = enjoyment of  retirement

Dec 03, 2017 11:48 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I think it depends on how much you spend and what your debt is.

Dec 03, 2017 11:18 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

For 1 thing it is not even enough to own a home here. That is the reason you see people work through 80s.  We got a realtor she is 90 needs work.

Dec 03, 2017 10:19 AM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

You really need to back into you...what are costs/lifestyle.  I think a good rule of thumb is that if you only spend 4% of your savings each year, it will keep lasting/replenishing, provided that it's invested.

And, to answer your question, no I don't think 1 million would be enough...certainly not here in NY.

Dec 03, 2017 08:41 AM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Living well: $5 million LARGE: $20 million plus. JMHO


Dec 03, 2017 03:28 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC

I wouldn't think that $1.5M is nearly enough but, then again, it depends upon your lifestyle!

If you're planning to live in a motor home, touring the country and you have some rental properties bringing in income, then it MIGHT be enough to supplement your frugal lifestyle.

Otherwise, save, save, save and invest, invest, invest! 

Dec 03, 2017 03:24 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on your needs.

Dec 03, 2017 03:09 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

At Costco, they sell 50 lb bags or rice & beans for about $10 or so. You can live for months on this. Saying that, how do you want to live is the question to your question. I have discovered simpler is better & less is more

Dec 03, 2017 02:09 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Retire when you:

Own your home free and clear of mortgages.

 Own an automobile that will last 20+ years (S-class Mercedes, BMW 7, Audi 8 series, etc.).

 Have solid assets including real estate and precious metals.

 Have enough money in the bank, that if you had to eat the principal to maintain your lifestyle , that money would last you the rest of your life.




Dec 03, 2017 01:19 PM
Alan May
Jameson Sotheby's International Realty - Evanston, IL
An offer you can't refuse!

I sure hope we won't need a million and a half.  'cause if that's the case, I won't be able to retire for a very long time.

Dec 03, 2017 08:45 AM
Roy Kelley
Retired - Gaithersburg, MD

You will never have too much.

Dec 03, 2017 06:15 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


Candice A. Donofrio and I are on the same page.

Dec 03, 2017 03:06 PM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

It depends whether you dine on caviar of cat food.

Dec 03, 2017 02:06 PM
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Health care is the killer, is that what we call irony?

Dec 03, 2017 10:17 AM
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

It really depends on where you retire and what you plan your budget is. However health insurance costs are a big part of that which many people don't account for. I think one million should be enough taking out only 4% a year, along with social security.

Dec 03, 2017 08:22 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Great question. It depends on lifestyle and where you live. For someone currently under 50, I would think 2-2.5 million may be required! So many are doing it on far less!

Dec 03, 2017 08:16 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Of course, that totally depends what their expenses are, what part of the country they live in and what their expectations are. I would have to agree that if retiring at age 50, 1 to 1.5 million may not be enough even if you plan to live very modestly. Retiring with that amount at 60-65 may be just fine.

Dec 03, 2017 04:15 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I do know it seems to be an ever increasing amount. If any one wants to donate a million, I can be a text subject while spending days on the beach in South Florida? Just let me know

Dec 03, 2017 02:39 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I think it all depends on the lifestyle you want to live once you are retired. They say the majority of spending is in the first 10-20 years, again depending on what age you retire.

Dec 03, 2017 02:07 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

More than you think.

Dec 03, 2017 06:52 PM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Depends on age, local and a hole list if issues

Dec 03, 2017 06:37 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I would agree with that.

Dec 03, 2017 05:48 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I read yesterday that in my state a million would last 24 years.  So yeah, I'm gonna need a little more than a million.  Of course it was based on spending that I won't be spending as my house will be paid for, but still I might want to vacation extra.

Dec 03, 2017 05:45 PM
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

I think the answer is how much monthly income you will need to retire. As I am 70 and still work somewhat P/T I know that my monthly income should be less, as I payoff bills. I think monthly income generated from social security, pensions, annuities, etc is the major consideration.


Dec 04, 2017 07:07 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would think it would vary widely by location and lifestyle.  Though, I doubt that $1.5 million would last very long these days.

Dec 04, 2017 05:18 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty


Dec 04, 2017 03:20 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Depends where you live, if you live in the most expensive locations( Manhattan and most major CA cities) you need a lot.

Dec 03, 2017 11:19 PM
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Great question and great answers. Thank you. 

Nov 26, 2018 06:39 PM
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Most likely a lot more than they have unfortunately, but also depends on definition of comfortable ;-)

Jan 14, 2018 07:10 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have heard $1 million may not be enough, but not retiring for a few years, and just crossed over 60.

Dec 05, 2017 01:04 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow, 1 million to 1.5 million,  now I know I am working longer.


Dec 05, 2017 11:03 AM
Sean Casey
Patterson-Schwartz Real Estate - Newark, DE
Greenville, Hockessin, Newark & Bear Homes

I think it may depend on spending habits more than anything else.  Many earlier generations were able to get by on much less than we can today.

Dec 05, 2017 10:59 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

It depends on your definition of comfort.

Dec 04, 2017 10:51 AM
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Luxury Homes & Interior Designer

 As much as possible!

Dec 04, 2017 08:08 AM