This document discusses whether $1 million is enough to retire on and live comfortably. It notes that for millennials retiring in 40 years, $1 million today will have the same purchasing power as $306,000 due to an estimated average annual inflation rate of 3%. It also provides some comparisons to quantify what a million of something looks like, such as a million grains of salt equating to a gallon or a million dollars in $100 bills weighing 22 pounds. The document finds that most millionaires maintain their wealth through subsequent generations by continuing to work in some form.

1. How long
until you
plan to retire?
What is thelikelihood of pursuingmillionaire status?
What lifestyle do
you want to live post
retirement?
?How Much
MILLION?
is a
Is a million dollars enough to last a lifetime?
Let’s quantify a million...
Living Like a Millionaire
In order to ask that question, you first need to know the following:
Millennial Fact
For Millennials who have
an estimated 40 years until
retirement, is $1 million dollars
enough to retire? Well, if inflation
averages 3% a year, that $1
million will have the
same spending power
as $306,000 today.
$1M = $306K
TODAY IN 40 YEARS
Source:
Time.com Money Blog, 2016
A million grains
of salt is only a
gallon’s worth
A million
seconds is
only 11 days
A million minutes
is only 1.9 years
A million inches
is only 15.7 miles
A stack of a million
sheets of paper would be
250 feet tall (25 stories)
A million dollars’
worth of $100 bills
weighs only 22 lbs
The preferred car of millionaires is a Ford, followed
by Cadillacs and Lincolns.
Many millionaires prefer economic means of
transportation because cars are investments with
little return.
70% of millionaires lose their wealth by 2nd
generation and 90% by the 3rd
generation
Source: The Williams Group, 2003
Source:
Tracy, Brian. 2006. Million Dollar Habits: Proven Power Practices to Double and Triple Your Income.
Source: Ellsberg, Michael. 2011. The Education of Millionaires: Everything You Won’t Learn in College about How to Be Successful.
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15.7 mi
1.9 years
November 1Gal
100$ $
22.0
100$ $100
$
$
25 stories
Around 80% of millionaires are college graduates
18% have
Master’s degrees
6% have
PhDs
6% have
Medical degrees
8% have
Law degrees
1
2
3
In the U.S., only 9% of
households are millionaires
Source: Spectrem’s Market Insights 2016
Source: Palmer, Kimberly. “The 10 Youngest Billionaires in the
World.” U.S. News. June 4, 2012.
Mark Zuckerberg
Sean Parker
Eduardo Severin
Dustin Moskovitz
Four of the world’s
youngest billionaires are
connected to Facebook:
Source: Barclays Wealth, Wealth insights Volume 12,
2010
60% of
individuals with
over $1.5M
saved envision
working in some
form for as long
as they can
SF#12026910-2016
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