As we discussed last week, there is a conventional wisdom that one needs about $1 million to retire comfortably, that may or may not be true. Given that many Americans have literally nothing saved for retirement, a million dollars sounds like plenty. But according to a new report from personal finance site GoBankingRates, depending on where one lives, retirees could blow through that one million dollar nest egg in as little as 12 years.
Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.