No. of Recommendations: 0
Agreed that it can be enough. The avg SS payment today is said to be about $850/m. So many of today's retirees are probably comfortable on $20k/yr or so. They would see $50K as generous with surpluses to pay taxes and allow for some extra expenses.

However, the $1MM question usually implies retirement long before SS kicks in. Inflation is a larger factor with longer life expectancy. These folks may be retired for 40 to 50 years.

You can probably do it on $1MM if you have to. But to me you would rather have more of a cushion. It would be terrible to run out of money and have to go back to work after 10 or 15 years. Then, when most of your professional contacts have retired, job opportunities may be very limited.

Most of us envision a more upscale retirement with funds for travel and recreation. TMF's 20x recommendation is a good starting point.
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