I always shake my head at these silly articles. If you make $115K/yr and think that you’re gonna retire and continues that $115K/yr spending...then you are probably broke to begin with...Mortgage should be ZERO...expenses should be stripped to parade rest...What about health issues and unforseen expenses. Reroofing that house at 73 is gonna be painful. $1M will last if you are drawing out $40K-$50K average in your 60s, $50K-$60K average in your 70s $60K-$70K in your 80s...by the time you’re in your 90s you have $500K-$600K left depending on average returns. The older you get, the less you should be spending on STUFF and housing. Crap man, take $200K - $300K and buy a few places and start a property management company. WHen you hit your upper 70s, start selling the property. 15-20 years worth of property value increase with a 12%-15% annual return on investment (in positive cash flow) and tax write-offs.... Then use that other $$$ to enjoy the heck out of your retirement.
You should have written the article. Any writer who doesn’t consider that you will have paid off your mortgage by 65 and that your living expenses will go down and that social security kicks in along with Medicare is ignoring facts.
I retired at 69 6 years ago and now have a net worth much higher than when I was 65.