Why $2 Million Is the New $1 Million for Retirees in These 10 Cities [Yahoo! Finance]
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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Source: Yahoo! Finance
Try This: How Long $2 Million in Retirement Will Last in Every State Trending Now: 6 Clever Ways Retirees Are Earning Up to $1K Per Month From Home The reason? The math for expenses like housing prices and healthcare costs combined with longer lifespans and inflation just aren't adding up anymore. In some areas, $2 million is more what it may take to retire comfortably without constant financial stress. Here's why $2 million is the new $1 million in certain areas in the U.S. and the cities where the shift is most obvious. Withdrawal Amounts Aren't as Powerful Anymore For many retirees, they'll lean on the 4% rule as their baseline, which suggests that retirees can withdraw 4% of their savings annually in the first year, then adjust each year afterwards for inflation. If you have $1 million, that amounts to about $40,000 per year. The problem is that average retiree spending already exceeds what $40,000 can safely support. According to the Federal Reserve Bank of St Loui
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News
- Genworth Financial Schedules Earnings Conference Call for May 6Business Wire
- Need long-term care but never planned for it? Here's a loophole [USA TODAY]USA TODAY
- Need long-term care but never planned for it? Here's a loophole [Yahoo! Finance]Yahoo! Finance
- Genworth Financial (GNW) had its "outperform" rating reaffirmed by Keefe, Bruyette & Woods. They now have a $10.50 price target on the stock.MarketBeat
- A Medicaid 'spend down' may get an older person long-term care coverage but isn't a DIY strategy [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
GNW
Analyst Actions
- 3/26/26 - Keefe, Bruyette & Woods
GNW
Sec Filings
- 4/6/26 - Form ARS
- 4/6/26 - Form DEFC14A
- 4/6/26 - Form DEFA14A
- GNW's page on the SEC website