How much money will you need to save in retirement? Think you’ll need $2 million? You may be surprised, but according to a recent article on MSN, experts believe that $2M should be the new goal for most Gen Y’ers. In fact, they also suggest that Gen X’ers strive for a $2M nest egg as well. Although I appreciate articles of this nature and understand that their intended purpose is to reach a broad general interest audience, there were a few things that raised a red flag: 1) $2M may be way more than some people will ever need. 2) The $2M goal is based on working until you reach age 70. Who wants to do that? What if your timeline is compressed so that you can retire earlier? Using conventional wisdom, a $2M portfolio with a 4% withdrawal … [Read more...] about Will Your Retirement Cost $2 Million?