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As I am retired, I did not vote. I would concur that the type of retirement income, cola'd pension vs 401k would have an effect. However, I would also think the faith one has in FireCalc, the 4% rule and other guidelines also if a factor. The current economy, while bad, is not as bad as previous economies. It may get there, but I for one do not think so.
It also brings me to the point about FireCalc/4% I don't understand. If I had $1M in 2008 and needed $40K to retire, I am good. However, in 2009 I only have $600k. If I were going to retire and need $40K, I can't retire, but the guy that retired in 2008 is OK. We both need the same amount, we both have the same amount? It does not seem like 1 year should make that much difference.
basic firecalc answer
1,000,000 need 40,000 for 30 years 94% chance of success
600,000 need 40,000 for 29 years 39% chance of success!
980,000 need 40,000 for 29 years 94% chance of success!
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