Here’s What a $2 Million Retirement Looks Like in America

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We spoke in depth with four retirees who saved enough to build comfortable retirements, with net worths ranging from roughly $2 million to $4 million. They shared insights about how they spend their time and money, what has given them joy or anxiety, and how their expectations of life in retirement measured up to the reality.

The four live in different parts of the country and are at different phases of life—with one just entering retirement at 61, while another is in his 80s.

Among other things, they offer insight into some of the challenges that retirees—even those with substantial savings—face today. They also shared advice on the importance of having a sense of purpose in your post-career years, keeping engaged through paid or volunteer work, and periodically re-evaluating one’s needs and desires in response to aging and other changes.

Here are their stories:

John Fitzgerald
Savings and Investments: $2 million
Annual Spending: $144,000
When John Fitzgerald retired as a police lieutenant about three years ago after 33 years on the force, his deferred compensation plan was worth about $1.7 million.

James Compton
Savings and Investments: $1.5 million
Annual Spending: $100,000
James Compton, 84, only recently fully retired.

Judy Hall
Savings and Investments: $1.8 million
Annual Spending: $110,000
When Judy Hall retired in 2005 at 58, she had about $2 million and no clue how she was going to fill her days. To gather ideas, the former human resources executive at Berkshire Hathaway Inc.’s General Re took a seven-week road trip to visit retired friends.

Bob Bradley
Savings and Investments: $1 million
Annual Spending: $92,543
For Bob Bradley, retirement came sooner than he had imagined. 

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