Good morning!

Remember those wild days of 2020? Feels like a lifetime ago (thank goodness!)—but the ripple effects are still here. Inflation has stayed elevated, leaving many of us wondering: does this change how much we really need to retire comfortably?

Today, I’m cutting through the noise to answer that question. I’ll break down what a realistic retirement target looks like, factoring in debt-free living, average expenses, and the power of Social Security.

By the end, you’ll have a clear sense of what it takes to plan a retirement that’s both comfortable—and truly achievable.

FINANCIAL TOOL
How Much Do You Really Need to Retire Comfortably?

As inflation has accelerated in the past few years, the question of how much you really need to retire has become paramount.

A million doesn’t go as far as it used to. But for those of us who still see our sixties decades away, what is a good and reasonable target?

Step 1: Start With Today’s Average Expenses

According to The Motley Fool, as of 2023, the average U.S. household spends about $6,440 per month. Of that, roughly $2,120 goes toward housing.

But consider this: a worthy goal of retirement is to be debt-free. No mortgage, no car loans. That changes your average monthly number.

• Total monthly expenses (with mortgage): ~$6,500

• Total monthly expenses (without mortgage): ~$4,500

So if you’re on track to be debt-free, your basic living expenses in retirement could comfortably be around $4,500/month.

Of course, everyone will have their own unique standard of living. Some are comfortable on less, and others can’t imagine spending less than $10,000/month. Either is fine—but we’re working with generalities for the sake of this illustration.

Step 2: Factor In Inflation

The Federal Reserve targets 2% inflation on average over many years, but it’s likely to be elevated over the next decade—estimated closer to 2.3%. 

Using this figure, let’s project average expenses over time:

*Note: If reading this on mobile, turn your screen horizontal for a better view of the chart.

Quick takeaways:

• The 25x rule (multiply annual expenses by 25) gives a rough target for your nest egg.

• Social Security can reduce the amount you personally need to save.

• These calculations account for one average Social Security check. If two checks are being received, this reduces the need even further.

• Even if retirement is decades away, $2 million is usually enough for average expenses, assuming debt-free living and careful planning.

Step 3: The Real Goal

Retirement planning is more than just hitting a number. It’s about:

• Paying off debt before you retire

• Maintaining a lifestyle that feels comfortable

• Accounting for inflation and healthcare costs

With good planning, $2 million can provide a solid, comfortable retirement for most people.

Retirement Matters—But Your Life Doesn’t Have to Wait

Planning for retirement is important, but at The Wealth Expedition, I focus on helping you make meaningful progress today.

That means not waiting 40 years to start living the life you want.

Unlike platforms like Motley Fool or Zacks, which primarily focus on stock picks or research reports, The Wealth Expedition gives you a complete, actionable roadmap—combining mindset, budgeting, investing, and entrepreneurship—so knowledge becomes real-world results.

That means setting short- and intermediate-term goals and using strategic financial planning to buy back your time, flexibility, and purpose, all while steadily growing your nest egg.

It’s not just financial analysis in a void.

It’s the whole package—a treasure map for you to follow!

Here’s the plan:

• Follow a clear, step-by-step map designed to reduce debt, grow your nest egg, and maximize your financial freedom.

• Join a community of like-minded adventurers on the same journey.

• Receive guidance and accountability from an experienced CFA Charterholder and financial guide.

• Learn more than just stock or fund picks—develop skills, habits, and a mindset that create lasting financial mastery.

The choice is yours:

• Wait decades and risk losing precious time and opportunities.

• Or take deliberate steps today, building wealth and freedom along the way.

And hey—it’s going to be fun! You’ll be immersed in a fantastical story while making real progress toward your goals.

Membership is opening soon.

I’ll be there to help guide you as we follow the treasure map to achieve meaningful financial milestones.

Founding Member spots are limited—join the waitlist today to secure your place. Click here to learn more about the perks of being a Founding Member.

This is going to be unlike anything that’s ever been done.

We’re changing the paradigm of what we expect out of life—and how we use financial planning to design a life of abundance today!

This is financial planning like you’ve never seen it before—it’s your expedition to freedom, purpose, and abundance.

Let’s embark on it together.

Daniel Lancaster, CFA

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