Affluent Arizonans Say They Need $2M to Retire
Affluent Arizonans are confident they can achieve their goals for building a comfortable retirement nest egg, the Phoenix Business Journal reported last month.
According to a study by BMO Private Bank, 90 percent of those surveyed—high-net-worth Arizonans with $1 million or more in investable assets—are optimistic that they can achieve the $2.3 million they’ll need to save for retirement.
Jason Miller, director of financial planning with BMO, said this outlook reflects the rebounding economy. Miller also said Arizona’s rich are passing down lessons learned from market volatility in recent years past by teaching their children about money management.