Many retirees dream of reaching $1 million in savings, believing it will finally give them the freedom to relax and enjoy life.
Yet, according to certified financial planner Kevin Lum, many end up with sometimes $5 million or more by the end of retirement. While that might sound great, it usually isn’t the result of brilliant investing. In a recent video, Lum said it happens because many retirees simply don’t spend the money they’ve saved.
