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Feb 11, 2022

The sixth richest man in the world ($104 billion net worth) enjoys a simple, frugal life.  Buffett still lives in the same starter home he bought in 1958.  He begins the day with a McDonald’s breakfast and even clips coupons.  And Buffett doesn’t splurge on expensive hobbies.  In fact, he told CBS Sunday Morning that he plays bridge about 8 hours a week! How important is it for retirees to stay frugal as they spend their nest egg? 

When you log into your financial accounts, what’s the number that needs to be on the bottom of the page before you’d feel completely comfortable about retiring?  Three-fourths of Americans responding to a MagnifyMoney survey say one-million dollars would do the trick.  On the other hand, a fourth of baby boomers surveyed say there’s no amount of money that would make them comfortable!  What are your thoughts on what it takes for someone to feel confident about being able to retire?