I don't know, Steve.
I see your point but let's factor in SSI too. I know, we should use that as a wild card, b/c it may not be there, and I am but I went to a retirement calculator yesterday and considering I live to 80 (a few past my average as a male), it seemed to give a more mature prediction:
$845K was needed assuming an even drawdown each year.
Maybe to boost SSI, we should be having more babies. I'll try to talk the wife into a little romp tonight. . .for patriotic reasons, I'll tell her.
I still think financial advisors have a vested interest in getting you to "oversave" to the point of hoarding. They are usually paid on the amount of assets they manage, excepting fee based CFP's.
What then happens is the average hapless sap hears, "Oh, you need 2.8 million dollars to retire" and says, "Ahhhh, forget it - what's the use?"
It's too big of leap.
I think the point is to not get trapped into a "retirement lifestyle." I can imagine liking a cruise - once in awhile but is a life of leisure really for me?
For you?
C'mon now - we're docs - we help people, we teach (that's what the word doctor means) - I can't picture myself cruising around the world having people wait on me. I can see myself immersed in community involvement, perhaps the grandkids. . .I can't see myself traveling a hell of a lot.
In fact, I plan to do it while I'm young and when I"m old, show up at your office 1x/month at 6:30 a.m. with my 14 overmedications and tell you about my bowels.
