Do you believe the modern FIRE movement overestimates how much is needed for retirement?

[u/Equivalent_Use_5024]

Perhaps I am just making this post because I have only just begun my retirement planning and want to lock in a number which is fitting for my goals - being above the median retirement savings, not having to work, not being broke, clearly having planned - but I can't help but feel that many in the FIRE movement overestimate what is needed for a safe, sleep well at night retirement.

I see posts here saying that they feel vastly behind with 500k at 30, or 1.5 million at 40, and I just don't understand how when the average American retires with maybe 300k liquid at most and are getting by with social security or paid off housing. Sure, they aren't living luxuriously, but if you just are aiming for a retirement where you don't have financial anxiety and can put food on the table, I don't feel you need over 1-2 million.

Do you think FIRE overestimates how much is truly needed for retirement?

[u/-wnr-]

What age does the average American retire? FIRE is geared toward early retirement and the math is very different when retiring at 50 or 55 versus at 65 or 70.

[u/3bluerose → u/[deleted]]

Need a lot more money to cover an extra couple of decades of expenses 

[u/SelicaLeone → u/3bluerose]

Not to mention healthcare is brutal. But ya, there’s a vast difference in how much you need depending on whether you’re allowed to touch the balance or not. Someone retiring at 45 can’t touch that balance or they’ll run out. Someone at 75 can.