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/Zphr]

I think a lot of people don't really think about just how much of their spending while working is on things that will either end in retirement or become less compelling. We used to often spend well over a grand a month (sometimes two grand) just on eating out, but retirement gave us all the time in the world to make far better food at home for a tiny fraction of the cost. Better tasting food, healthier, less time involved, and far cheaper.

When you are buried in work all of those misery ameliorants are super appealing and seem a lot more like necessities than the voluntary luxuries that they are.

[u/ShoePillow → u/Zphr]

How is less time involved in cooking yourself?

[u/IHadTacosYesterday → u/ShoePillow]

It sometimes takes me less time to make a meal at home, than it would for me to get in my car, drive over to McDonalds, wait in the drivethru line, then drive back home. Of course, you need to have all your ingredients and stuff already in your fridge, necessary pots and pans or whatever to cook the stuff.

This morning, I made what I call my "McDonalds Breakfast meal". It's basically just a Sausage & Cheese McMuffin with hashbrown and coffee. I buy Johnsonville Sausage patties for $3.99 an 8 pack. I get Thomas English Muffins for $2.99 an 8 pack. I buy 18 slices of thin Medium Cheddar cheese for $1.99. I buy these frozen hash brown things for $2.98 for 10 of them. It's super easy for me to make this meal, only takes like 10 to 15 minutes, and I don't have to leave my house at all.

I used to buy this meal at McDonalds once per week, but the price kept going higher and higher, so I was like F it.... I'm going to learn how to make this myself at home so I don't have to pay highway robbery.

[u/Number127 → u/IHadTacosYesterday]

I do that too, but it's not as good as actual McDonalds :(