A lot of people leaving out day to day expenses associated with driving a car and owning a house ! That house you've paid off that you are going to live in for 30 years will require upkeep. Cars require upkeep.
And the inflation point is fantastic. Insurance, Food, etc will (probably) all be 50% higher in 20 years.
From my peer group there are two types of people - Over saving and under saving for retirement. It seems to relate more to the person's mindset then to their income level.
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