For many retirees, the real base case isn’t ‘$1M liquid.’ It’s Social Security, maybe some home equity they can tap, maybe some retirement withdrawals, and sometimes continued work.

Yermin

Most people have some retirement income, though, and their savings can continue appreciating.

Bigger picture, I think we need to reexamine the expectation of doing no productive work while retired. As we spend more of our lives in retirement, it needs to become a more sustainable and fulfilling part of life.

Personally, I'm thinking about retirement as being the point where I can do exactly the work I feel like doing, when I feel like doing it, but I expect to continue working my whole life.

econ

In California, $1M Only Buys ~11.9 Years of Retirement

Most people have some retirement income, though, and their savings can continue appreciating.

Bigger picture, I think we need to reexamine the expectation of doing no productive work while retired. As we spend more of our lives in retirement, it needs to become a more sustainable and fulfilling part of life. 

Personally, I'm thinking about retirement as being the point where I can do exactly the work I feel like doing, when I feel like doing it, but I expect to continue working my whole life.