Here is a question I often ponder. What is the minimum level of net worth you would need to feel secure? Many people write they would feel secure if they had a minimum net worth of $1,000,000. This amount would include home equity and savings portfolio. Others disagree and say more would be needed. Somewhere in the vicinity of $2-5 million in home equity and savings. I agree that $1 million for retirement these days probably isn't quite enough. A home clear of mortgage debt, no other major debts, and 1.5 million in savings would probably do quite nicely though.
Any other opinions?
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