Kiplinger

4 Simple Habits to Build Wealth Faster

As a young child, did you ever dream of having $1 million in the bank?

I used to think that way, but my perspective changed over the years. $1 million is no longer a guarantee of financial freedom. For someone spending $200,000 a year in good health, $1 million won't go very far during retirement. For someone else who spends $40,000 annually and has Social Security income, saving less than $1 million may be appropriate.

Numbers can change. The stock market moves up and down. You may be in a high-paying career now but could

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