[Craig T]

I read a financial article today that said individual IRA's and 401K's are finally starting to hit the $1MM mark. For three reasons primarily, 1. Qualified plans have been around a long time now. 2. Pensions drastically eliminated in the 90's forcing people to save. 3. The Stock market is at record levels.

Taking into account our IRA's and 401k's were invested pre-tax, and taxed upon withdrawal, how much would you need in your "qualified plans" to pull the plug on work and retire? ...And I mean retire. Full-time fishing, golf, babysitting grandchildren, car restoration project, drinking too much, and general old man debauchery.

Let's create some hypotheticals:

-Your House is paid off
-You still need to cover healthcare until Medicare age of 65 (estimate $20K annually)
-You have a decent Soc Sec check coming at 62
-No rental income