i was perusing a money magazine over the weekend and happened to stop on an article about retirement. it suggested that you strive for an income in retirement that was 85% of your pre-retirement income, so you could continue your current style of living.
my first reation was: WHAT!?@!? why would i need such a high income stream? that's ridiculous!
after thinking on it for a bit, i came to the same conclusion.
if i could achieve an income 85% of my current income, i'd be retired now! no, i'd say what you need in retirement is largely dependent on the size of your nest egg. if i had 10 million dollars that i had saved over the course of my working life, i could probably get by without any income -- i could put that 10 million in my mattress and simply make withdrawals from it whenever i needed to buy something.
the only reason i could imagine that i'd need a high income stream would be is if i had little or no savings and did not own my primary residence.
i don't know who writes this stuff out there in the print media, but some of that stuff sounds just plain crazy to me.