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Is $1 Million Really Enough to Retire? Let’s Break Down the Magic Number

June 24, 2025

For decades, $1 million has been the gold standard — the “magic number” that people believe they need to retire comfortably. But is it still realistic in 2025? Or has that figure become a retirement myth?

At Patria Wealth Group, we hear this question often:
“Will I be okay if I save $1 million for retirement?”

The truth is — it depends.

💡 Why $1 Million Became the Benchmark

Historically, $1 million felt like a financial milestone. It represented security, the ability to stop working, travel, and live comfortably for decades. In the 1980s and 1990s, it was a substantial nest egg. But fast forward to today — inflation, longer life expectancy, and rising healthcare costs have changed the game.

💸 The Modern Retirement Landscape

Let’s look at what $1 million can do in today’s economy:

• Annual Withdrawal Rule: Following the 4% rule, $1 million generates about $40,000/year. Is that enough to support your current lifestyle?
• Rising Costs: From healthcare to housing, costs have increased significantly in Delaware and across the U.S.
• Longer Retirements: Retiring at 65 could mean living 25–30 more years — or longer.

Suddenly, $1 million doesn’t sound quite so magical.

📍 Why Personalized Planning Matters

The idea that everyone needs $1 million is a one-size-fits-all myth. The reality is that your retirement number should depend on:

• Your lifestyle expectations
• Income sources (Social Security, pensions, rental income, etc.)
• Debt and healthcare needs
• Legacy goals (Do you want to leave money to family or charity?)

At Patria Wealth Group, we work with individuals and families across Wilmington and the greater Delaware area to create personalized retirement strategies — ones that reflect their values, needs, and real numbers, not arbitrary goals.

✅ The Bottom Line: Forget the Magic Number. Focus on the Right Plan.

Instead of chasing a number, focus on building a flexible, sustainable plan tailored to you. Whether you’re 35, 55, or already retired, it’s never too late to gain clarity and confidence.

🔍 Want to Know Your Retirement Number?

Let’s talk. Schedule a free consultation with a Patria Wealth advisor today. We’ll help you determine what retirement looks like for you — no myths, just facts.

📞 Call us at 302-595-9339
📍 Visit us in Wilmington, DE
🌐 www.patriawealthgroup.com