[kristinecfp]

I've found that people in their 60s today could probably retire on $1M, but that younger folks, who have longer life expectancies, could NOT retire on $1M because of inflation (even more so than lifestyle).

If you looked at two different couples, one in their 60s and the other in their 30s, and both had the exact same lifestyle, the couple in their 30s would need probably about 4 to 5 times more than the couple in their 60s would need, not only because the money would have to last longer, but also to keep up with inflation.

So if I were 65, then yes, I probably could retire on $1M, but at 34 years old, I would need $3M or more to retire right now.