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Depending on where you live, having $1 million in savings at retirement may or may not be enough. We have all the details later in this email.
💵 Today’s Top Stories
Save money with discounts on sunglasses, medicine, clothes, books and more. Check out our full list of brands, days and eligible ages. Read more. |
Clark gave us a simple, six-step formula to make sure you spend as little as possible on your car rental. Here’s how to save like Clark. Read more. |
U.S. News ranked the best careers in terms of salary and work-life balance, among other things. Do any of the top 5 surprise you? Read more. |
This budgeting tool is free and custom-made for partners, offering flexibility on how much of your finances your partner can see. What’s the downside compared to other options on the market? Read more. |
Love sports and news content? See if this announcement impacts your streaming subscription! Read more. |
💻️ Tech Tip From Kim Komando
Check your permissions: Certain websites may have access to your webcam and microphone. To check in Google Chrome, Microsoft Edge or Mozilla Firefox, click the icon to the left of the address bar. In Safari on a Mac, open the Safari menu and pick Settings for … to see. Join 575K people who get tech smart with my friend Kim Komando’s free newsletter, The Current.
💵 How Long Will $1 Million Last in Retirement?
Amassing $1 million in retirement savings has long been a significant milestone. But based on where you live, that money may last 12 years – or 89.
That’s according to data from GOBankingRates, which Visual Capitalist put in a graphic and in a sortable table.
The same $1 million, plus Social Security, can last for 77 more years in West Virginia than it will in Hawaii.
Here are the five states where your money will evaporate the fastest:
Hawaii: 12 years
California: 16 years
Massachusetts: 19 years
Washington: 22 years
New Jersey: 24 years
And here are the five states where your money will last the longest:
West Virginia: 89 years
Mississippi: 87 years
Louisiana: 77 years
Arkansas: 77 years
Oklahoma: 71 years
The data also suggests that $1 million plus Social Security is enough at present to fund at least 30 years of retirement in 36 of the 50 states.
📊 Stat of the Day
📺️ $36 billion: The amount of money YouTube made on advertising in 2024. Though many consider Netflix the king of streaming, Netflix’s total revenue in 2024 was $39 billion – not much more than YouTube made on ads alone.
💰️ Deal Alert: Today’s Top Deals
🎙️ Podcast
Are you seeing an uptick in junk calls? Clark is, too. He explains why we’re seeing a surge in spam calls and texts. Plus, Clark shares his rule for dealing with the calls. Also, the desalinization of water has been an expensive process, but a new breakthrough promises usable drinking water from our oceans at a much cheaper price.
☎️ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
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