Retirement Income Planning: Why $1.5 Million Can Still Feel Unsafe
A $1.5 million retirement balance can look substantial—and still feel frightening when the paycheck is about to stop. For careful savers, the missing piece may be a clearer income plan rather than another arbitrary savings milestone.
Jean follows Susan, a hypothetical 60-year-old with about $1.5 million in her 401(k) and IRA. She has been responsible with money, wants more time beyond work, and keeps asking: “What if I run out?” Another calculator result can reassure her briefly, until markets, inflation or long-term care raise a new question.
The episode separates two issues: a plan that…
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