Once your nest egg has reached your mental “magic number” — $500,000? $1 million? $5 million? – it’s tempting to start to fantasize about an early retirement. Before you do, you may want to test-drive MarketWatch’s “How Long Will My Money Last?” calculator.
The Catch-22 of Time and Money
Americans strongly believe (with some justification) that “time” and “money” are tangible things. There are, after all, 24 hours in a day and a hundred cents in every dollar. Common sense tells us that time and money are real things, tangible and largely unchangeable.
In fact, “time” and “money” are, more than anything else, cultural constructs.
