New Year. New Start.

2021 is a new year, so have you set any goals to kick the year off right?

As you would expect from a #CPA, one of my new year rituals is to set a budget and #financial goals. I was recently looking at my 401(k) and realized my prior belief that $1M was a great goal was way off!

Using $1M as an example for retirement planning, that means I would likely only draw $40,000 - $50,000 per year. As a #California resident, that is a tough amount to live on.

Digging into this further I discovered $3M is the new $1M.

Are you ready for that? I know that I'm not... Well not yet.