That said, not being in debt is the real key.
Get rid of debt while you are in your earning years, and you are at least, as they say on the left, "sustainable."
Bkmk
I was in pretty decent shape until my wife of 23 years walked out and took our entire life savings. My only hope for retirement vanished. The only way I will be able to quit working like a slave is to die. There are many nights I consider making that happen.
If you retire with a million-dollar savings, prudent investment policies say that you should take NO MORE than 4% per year in income from it, if it’s invested safely and wisely. That would give you $40,000 per year income. If the $million includes your home, that would drop to $30,000 or even less. Throwing in Social Security would bring that to about $50,000 a year.
That’s clearly not what most people would considered able to support a “millionaire’s” lifestyle.
I call fake BS on this......