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Merrill Lynch at Bank of America is saying a million dollars is about the minimum anyone needs. If you use their calculator what they don't seem to take into account is the fact you might have income (like a pension) and they don't consider Social security for some odd reason.

They have sufficiently scared me into thinking I can never retire and they will just pull me away from my desk and send me off to the bone yard.

They give you that calculator to plan with and away you go. If you also go to that MINT site they also don't account for any income you might get other than your IRA account. They just want to know what you have right now and what you earn right now and then come up with these eye popping numbers.

The advisors basically want me cram as much money as I can into my account and say that you have to prepare for the worst, and hope for the best. I might add I have told them on several occasions that the managed funds at .0011 management fee a month seem to participate in every down turn very well, but don't seem to recover to the same degree. There is always a reason (excuse??) why that is the case.

So I sit here and obsess that there isn't enough money to retire with. I was actually planning on saving with that retirement income so I could have cash for that new roof you mentioned and etc. Saying I don't need to save as I currently do is something I have not thought of. I just assumed I would need to save using just the assured income in case there is a market melt down and I don't want to pull money out of the rollover. Then my cash on hand is the fall back.

Good plan?? Bad plan?? I am floundering.
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