RE: One analysis I read said that $1 million in a retirement account at age 65 is equivalent to a pension of $40,000/year.
Does this include Social Security? If not, add another $25,000 to $30,000 to that. That should make for a comfortable retirement.
I don’t think that includes SS. But I am not counting on any “promises” made to me by the government. I think SS is in danger of being yanked away from most of us who haven’t started collecting it yet, especially if we have scrimped and saved for our own retirement. The people who are going to collect it will be the “needy” who, instead of saving for retirement spent irresponsibly.
That assumes Socialist Insecurity will still exist ...