Comment Do the math (Score 1) 3
I live in a town in California where Firemen make $125K per year. They get 90% of their highest year's salary for retirement -- including overtime. Most of them work a ton of overtime in their last year and wind up with a pension of (on average) $150k per year. If a private citizen were to save up to to afford a 40 year retirement at $150K per year, they would need about $4M saved. So if it takes $4M to afford to retire like a fireman, then $7.5M seems about right to feel rich.