Reddit User Questions View That $1 Million Is Insufficient for Retirement

A Reddit user on the r/MiddleClassFinance subreddit questioned why $1 million is increasingly viewed as inadequate for retirement. "$1 million in liquid assets is still a lot of money," the original poster wrote. The poster described how maxing out a Roth IRA over roughly 30 years with annual returns of 8% to 10% could grow into a $1 million portfolio.

The poster estimated that the portfolio could generate roughly $3,000 to $4,000 per month. Social Security could push total monthly retirement income into the $5,000 to $7,000 range, according to the post. The poster noted that many retirees no longer face costs such as mortgages, daycare expenses or car payments, which could make retirement income stretch further.

"Most of the people saying this isn't a lot of money aren't people in retirement with no mortgage," the Redditor wrote. "Your health is not guaranteed. U.S. can bankrupt you," the commenter wrote.