When is retirement a luxury you cannot afford? According to Kiplinger Magazine, when you’ve saved $1,000,000!

“Considering that saving $1 million will only amount to about $40,000 per year for the average retiree (assuming you stick to a widely accepted rule of thumb that says you should limit your withdrawals to 4% of your savings during your first year in retirement), it’s easy to understand why retirement has become almost a luxury.”

With all the people I know who have had their 401k matches suspended, I’m guessing Kiplinger’s isn’t the only one who thinks retirement is a luxury you can’t afford!

Click here to read the article and view a giant graphic.