I don't think this administration fully understands just how many

[BobTheSubgenius]

57. I couldn't possibly agree more.

One thing that should also be noted, IMO, is that one of those legs - personal savings - have taken a huge hit from both sides of the equation. It's much harder to save an actual nest egg now, and what you might manage to save doesn't produce much income.

A reasonable expectation for ROI in this economic climate - barring any catastrophe that might be around the corner - and assuming one is suitably risk-averse in their later years, is about 3-3.5%. This means that every $100K invested yields $3000-3500, before taxes.

To be reasonably self-sufficient via one's personal finances and assuming no help from the govt. requires a nest egg of $750,000 to $1,000,000.

The other approach is to just spend it till it's gone. Going that route, $500,000 spent at the "no frills" rate of $25,000 will last 20 years. If you need more per annum than that, you have to hope you die before your money runs out.

Now THAT'S something to hope for, isn't it?