RE: There is a 4% rule of thumb so $1M only gives you $40,000 a year to live on.
That plus social security and downsizing to a smaller house, might help a long way for a reasonably comfortable retirement.
That is other other side of the wealth equation that does not get discussed enough. There are lot of things you can do to live comfortably on less money. Happiness is not measured by the square foot.