How Much:

In 2020 the poverty level of an individual in the continential united states is set $12,760.00. We guess that allows for a $500.00 rent and $250.00 for groceries. Thats a tough living. Good news, your Social Security income (a .5% investment) should be in the neighborhood of that amount. But if you want a better life such as a vacation at Smiling Trout, you will need a higher income. Let's set the desired monthly income of $10,000.00/mo.

Inflation:

If your need at age 65 is $10,000.00/mo and the average inflation rate is 2.17% (average from 2000 till 2019); compounded annually you will need $13,799.10 at age 80.

Depleting Assets:

If you start with $1,800,000.00 in an account earning 4% interest and spend at the rate indicated above you will run out of money at age 80.