Not too many retired people need to spend $80,000 (and its equivalent which is higher to account for ongoing inflation). I reckon you need to take that fact into account. If anyone of 55 can't retire comfortably on $1.6 or $1.8 million and live until 90, something is wrong. All assuming you own your own home. If that $80,000 is tax free and you own your home and car, why the heck does one need $80,000. This is per person, too. Besides, I am an example of someone who retired at 50 still worked a bit until 55, and said goodbye to the paid workforce since then and am living very comfortably with my funds growing strongly, not shrinking....
