“You’ve probably tried those retirement calculators or have used a retirement projector. Most of the calculators come out with a number you will need to “retire” based on your inputs and current progression. The numbers are usually big and run into the millions.
When I had $2.26 in my bank account I used one and it told me I would need $1,250,000 to retire. My annual expected expenses are about $50,000, so this also hangs with the common idea that you only need to save 25 times your annual expenses to live off the interest forever.
BUT SERIOUSLY WTF? Who can save $1,272,000 dollars? I was barely able to buy a burrito.”