Hmmm talking about $1M, recently just attend a seminar about investment and retirement.
and you know what? In order to retire at 62 years old, you need at least S$1M, assuming you have no income after that and you will live for 20 years
Seem not so easy to retire these days
when in actual fact, i doubt this is a need for every single person. so many other factors like expenditure patterns, habits, family etc. ... you got to plan for your future, but you have to be realistic about it as well. just be prepared, but don't waste your life away preparing for old age.