$1 Million sounds like a lot, doesn’t it? That many one dollar bills stacked on top of one another would reach 358 feet tall. Or the height of a 35 story building. It is a lot of money. However, it does not buy what it used to.
Click below to watch video:
$1 Million sounds like a lot, doesn’t it?That is because it is. That many one dollar bills stacked on top of one another would reach 358 feet tall. or the height of a 35 story building. It is a lot of money. However, it does not buy what it used to. In 1900, the steam liner Henry Hudson built for that much. Also, the largest private house built in Chicago. They called it the Palmer Mansion. What can this amount buy you now? You can’t buy a steam liner. But you can buy a luxury sailboat. You can’t buy a mansion in Chicago. But you can get a condo on Lake Michigan. Having a million in a diversified portfolio could help finance part of your retirement. This would offer growth and income. Want to see how it works? If a couple retired at 65 years old with $1 million in their investment portfolio, what would they have? During their retirement years from age 65 to 90, the money could generate a $45,000 annual income. This would increase at 3% each year. Assuming a hypothetical 5% annual rate of return. At age 90, the portfolio would have an ending balance of $500,000. The portfolio would have generated $1.6 million in total income. Call today. Schedule your review.