1. Retirement is expensive — and you can't borrow for it It's estimated that the average retiree needs a $1 million nest egg to retire comfortably. This includes costs of healthcare, everyday expenses, travel, and any inheritance you'd like to pass on. This number can be a bit mind-boggling, especially to two young, soon-to-be-parents just starting out in their careers. When our financial advisor walked us through what we'd need to save each month in order to reach our retirement goals, we were shocked to learn that we could actually afford the $500 contribution to my husband's 401(k) (which was matched at 75% by his employer), plus the $500 per month contribution to my IRA.