7 Tips to Retire with a Million Dollar Nest Egg – Money Talks News

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According to one recent survey, only 4% of Americans have $1 million or more in retirement savings, which means 96% of us dont.

Of course, depending on your situation, a million bucks may be overkill: Many people could fund their retirement years for a lot less. Still, its a nice, round number, and one worth shooting for.

Obviously, however, thats a lot of money. Is it even possible to get there? In a word, yes. And thats what were going to talk about today: building a million-dollar nest egg, and just as important, how to figure out how much youre actually going to need.

As usual, co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman. This weeks special guest is Roger Whitney, the Retirement Answer Man.

Remember, even though we sometimes talk about specific investments on this show, dont take them as recommendations because theyre not. Before investing in anything, do your own research, and make your own decisions.

You can watch this episode below, or if youd prefer to listen, you can do that with the player at the top of this article. Or, you can download the episode wherever you get your podcasts:

Dont forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

It sounds like a lot of money, but is $1 million enough to retire on? What you really need to do is figure out how big your nest egg should be and go from there. Whether $1 million is enough depends on your own situation.

Ready to build your wealth? We talk about ways you can get your nest egg to that elusive $1 million mark.

Roger has been a financial adviser for more than 25 years and is the host of the award-winning Retirement Answer Man podcast. He is on a mission to change the way the world thinks about retirement, one little conversation at a time.

Roger established Rock Retirement Club in 2018 to help foster a safe online space for soon-to be retirees to learn, plan, and interact with other like-minded folks on the path to retirement.

As if thats not enough to keep him busy, he is the author of Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future, a Forbes online contributor, creator of the Agile Financial Planning process, and past instructor of the Retirement Planning & Employee Benefits CFP certificate program at the University of Texas at Arlington and of Wealth Management at Texas Christian University.

Investopedia has named him to the Top 100 Most Influential Advisors 2017-2021, and he has brought home Plutus Awards for Best Financial Planner Blog (2019) and Best Retirement Blog (2015 and 2017).

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Stacy Johnson founded Money Talks News in 1991. Hes a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. Shes been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

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7 Tips to Retire with a Million Dollar Nest Egg - Money Talks News