In line with the "scraping by on $250K" thread, it turns out that a substantial minority of wage earners feel that they can retire just fine on a $250K portfolio:
Is $250,000 in savings enough to retire? | Prism Money | Analysis & Opinion | Reuters.com
As they sling the numbers:
Of course the article could also have been titled "69% aren't confident enough to retire on $250K!!"
Is $250,000 in savings enough to retire? | Prism Money | Analysis & Opinion | Reuters.com
As they sling the numbers:
... That leaves approximately $16,857 per year left to be satisfied by pension income, work income and withdrawals from investments. If we assume no work or pension income, that’s a withdrawal rate of 6.74 percent based on a $250,000 portfolio. [Editor's note: compared to the most common four percent rule of thumb.] Definitely a bit too high for comfort from a regular portfolio. But if the person annuitizes via a single premium immediate lifetime annuity, it’s not terribly outside the range of possibility.
Of course the article could also have been titled "69% aren't confident enough to retire on $250K!!"