[CaptainYooh]

Originally Posted by Mean Mr. Mustard

The 10,000 is really extravagantly high though, all things considered, especially since in order to retire, one should have their house paid off and be clear of any significant debts.

If people are planning on jet setting during their retirement and travelling the world then the $10,000 would be accurate, however most people when they retire consolidate, travel less and require less living space, instead occupying their time with people, not things that matter to them. Granted this is based off the traditional model of people who retire when they are in their mid 60s.

I think that as it currently stands the 120,000 per year of retirement is an egregiously high number that makes any retirement seem impossible for 95% of the population, if not more... I would actually find it difficult to spend 120,000 per year at the current time and I am 30. Granted I also don't currently have children, so that changes the equation quite a bit

It's neither high nor low, it's $120,000/year. How people plan spending at retirement is their own guess/dream/estimate. Your guess is simply lower than this number at this stage of your life, that's all.