re: 50% of millennials think they need $300,000 or less to retire in comfort

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I largely agree with you although median household is skewed by higher earners

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I think you're thinking of average household, not median. Median helps alleviate that issue. For example:

8 yearly household incomes:
$1.5M
$250k
$100k
$80k
$70k
$60k
$55k
$50k

The average household income of this group is $270k, the median household income of this group is $75k (middle of the $70k/$80k since they are #4/#5 on the list). Median is much more representative of a whole when there are huge outliers on the top end especially like you have with income.

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That being said, what is having 2-10 million dollars when you're 60-80?

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Healthcare. Medicare has limits. But who knows what all that will look like in 20+ years time.

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Healthcare. Medicare has limits. But who knows what all that will look like in 20+ years time.

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Good point but a robust HSA can work well for that.

Although a healthy lifestyle should take me as far as I need to go. Anything after 80 is just getting greedy.

We like to call those "People" ......... WRONG!

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Each year positive or negative cost $250k

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You having kids when you're 55, buying a new car every year and still paying on a house?

Seems like a lot with no mortgage and kid bills no?

And you realize your money will keep earning money right? It doesn't just stop when you start withdrawing at 55.

5M in an account making 8% brings you 400k/year.... 5% is 250,000.....

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I'm figuring the wife and I need $5M by the time i'm 55. Each year positive or negative cost $250k. So $7.5M at 45, $2.5M at 65, and broke at 75.

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Wtf lol

Present.

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are you 15?

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30

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The proverbial to each their own definitely applies here, but statistics show the age group that does the most traveling is 60 plus.

There are tons of places to explore around the world. Why put a cap on that because you’re “old”?

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I'll also add in most people travel more extravagantly in retirement (60+) for a couple very practical reasons:

1) They dont have people to support any more, and also have way more money (in total) now than they did when working in their 20s, 30s and 40s. (for those that did save/invest)

2) I'm not sure what jobs everyone here works, but if I had to take off 2+ weeks of work to take a more extravagant vacation, I'd rather quit my job than go back to the s*itstorm that piled up while I was gone. I get at larger companies people almost always have someone to cover for someone else, but I'm the only job title in my company that does what I do and only person largely that knows how to do what I do...so things just pile up when I'm gone, and it aint fun to come back to

So for practical purposes on #2, it's just way easier to travel for a long time when you dont have obligations like jobs and kids at home. So if you dont have kids and have a job where someone else can easily cover for you, thats awesome, but probably not something most can count on to take a longer vacation.