Well, it certainly took me a long time to ask the question (see Reader Poll: What Is Your Number?) and, it took me almost as long to answer it.
I’d like to say it was because I was forensically and actuarialy analyzing the results … I’d like to say it was, but that wouldn’t be the truth, which is much more mundane: it was mainly because I forgot all about it after our ridiculously long Australian summer holiday season (Aussie summer = USA winter) 🙂
So without further ado, here are the results:
Now, the first thing that you may notice is that the answers aren’t in any sort of obvious order; traineeinvestor was the first to notice:
The order … is not sequential. I fully expect to be awake all night trying to figure out whether this is really a cover from some experiment in behavioral finance.
Actually, the reason is equally mundane: I was trying to copy the following poll from GenerationX Finance, but when you compare them, you’ll find out that I even got that wrong (!?!):
I presume that GenX ‘randomized’ the ranges to make his readers think through all the options before merely selecting the first one that looked OK; at least, that’s what I would have done had I not tried to copy him 😉
But, to help us analyze the results, I have graphed them side -by-side and in logical order:
OK, that tells me that we are on the right track:
– either I am attracting the ‘right’ audience for this blog (which is nice), or
– my readers have altered their perceptions of “how much is enough” based upon some of my preachings (which would be really nice).
Given that GenX’ers are born in the 60’s and 70’s (I was born in the – late! – 50’s … scary, huh?), I can understand why some may be aiming for only $1 mill. to $3 mill., but to my mind, it’s still too low; and for Gen Y and so on, inflation will decimate your living standard by the time you reach ‘standard’ retirement age, so you have no choice but to aim higher.
But given that so many of our readers have lofty targets – and, I just may be responsible at least in small part for at least a few – let me ask you, what would you like to see from this blog in 2010 that you haven’t seen (enough of) yet?