No. of Recommendations: 3
"By my calculations, to live 'comfortably' (not extravagantly) during retirement, costs anywhere from $3600-$4500/month, including taxes."

I would have to disagree with this. My father retired 20 years ago, gets somewhat less than $15,000 per year in SS and a small pension, owns his own home and lives very comfortably, and saves most of his income each year. When he retired he had about $20,000 in savings; he now has about $70,000 in savings - He wants for nothing and does what he wants, when he wants.

I'll be lucky to have half of the resources of the sob story guy when I retire - probably less than $150,000 in assets, no home, and SS & 401K of about $24,000 per year - but I expect to live comfortably as well - I have no idea how this guy ended up with such a loss, but he was probably not paying attention for seven years.

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