{
  "id": 6435528,
  "title": "Do you need to be a millionaire to retire? Experts weigh in on the 15% rule.",
  "url": "https://urgent.news/2026/09/09/do-you-need-to-be-a-millionaire-to-retire-experts-weigh-in-on-the-15",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T15:03:23.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/personal-finance/investing/article/do-you-need-to-be-a-millionaire-to-retire-experts-weigh-in-on-the-15-rule-150323141.html"
  },
  "original_language": "en",
  "account": "Retiring comfortably often seems out of reach for those earning average salaries. A common recommendation is to save 15% of your income throughout your career, potentially leading to a million-dollar nest egg by retirement. However, experts advise that this guideline may not be universally applicable.\n\nKevin O'Leary, a multimillionaire investor, shared his \"15% rule\" on social media, suggesting that saving this amount of each paycheck, regardless of income source, would make one a millionaire by age 65 if started at 18. While this can serve as a useful benchmark, it may not suit everyone.\n\nWealth advisor Jeffrey Goodrich suggests considering several factors when planning retirement savings, such as the number of years until retirement, potential returns, and overall lifestyle. Goodrich emphasizes that your retirement standard of living should be based on your current income after covering essential expenses, debt payments, and other obligations.\n\nFor those with significant debt or lower incomes, saving 15% of their income each month might prove challenging. Moreover, unexpected life events like gaps in employment or starting to save later in life could further complicate reaching the desired savings goal.\n\nGoodrich recommends tailoring retirement savings goals to individual circumstances, such as planned retirement age and desired lifestyle. Factors like healthcare expenses should also be considered, as they could significantly impact your retirement finances. While Social Security, employer contributions, and inheritances might supplement your savings, they are not guaranteed sources of income.\n\nIn conclusion, the 15% rule can provide a useful starting point for retirement savings, but careful consideration of personal financial situations, potential life events, and desired lifestyle is essential for setting realistic and achievable savings goals.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}