[PAR35]

Common advice in retirement is to spend no more than 4% of your assets annually. So a millionaire can only spend $40,000 per year. Does that feel “rich”?

Don't forget the $24-30,000 a year (gross from social security. So while you won't feel rich, you can maintain a middle class lifestyle if you've paid off your mortgage and don't need a new car every 4 years.

[dfwgator]

Common advice in retirement is to spend no more than 4% of your assets annually. So a millionaire can only spend $40,000 per year. Does that feel “rich”?

Assuming you get an average 4% return on assets, yes you can spend $40,000/yr without reducing the principal, with a million in assets.

[Svartalfiar]

If you’re still spending $20-30M on your mortgage when you retire after what, 40 years?, you did something wrong. $40M a year, even without SS, should leave some decent room for beer if you don’t have a mortgage!