[opendoor]

Originally Posted by Slava

He's not suggesting that you $5m at 90.

He is though:

Originally Posted by Enoch Root

Posted in another thread already, but it is pertinent here as well.

Life expectancy continues to climb. Living into your 90s is now very common, and it likely won't be long before people are routinely living beyond 100. This has a profound impact on savings. If someone wants to retire at 60 or 65, and is likely to live 30 or 40 years in retirement, it becomes impossible to budget how much they will need to save, and the only solution is that they save enough so that they can live off of the income of their portfolio and never touch the principal.