Originally Posted by Rochard

I see these commercials trying to scare me into saving money for retirement and some say you need $1 million in the bank to live until eight-five or some such non sense.

Looking at my in-laws, they are both in their seventies, their house is paid off, their cars are paid off, and they have no credit card debt. They have $100k cash in the bank, a few investments, have more or less no bills other than the regular power and utilities. They live off of social security, have few needs, and seem to have a positive cash flow every month.

Did I miss something?