How much capital do I need to retire comfortably on ?

[Beagle]

The Mr Money Mustache blog goes into this question in great detail - http://www.mrmoneymustache.com/2012/...or-retirement/

To summarise, its about 25 times the amount you spend to live comfortably, assuming a 4% withdrawal rate over time. The lower your consumer spending, the more you can save, the earlier you can retire. So if you can live on $40k per year then you need $1 mil.

Thanks KW and I'll enjoy having a good look through that ASAP. We have one of the highest yielding markets in the world whereas on the other hand a typical dividend yield on an American share might only be 2%. Do you think that's a material factor for N.Z. retirees ?

Most of us here are investors.
To start investing you first of all need to live within your means.
Only then can you start to invest,spare cash.
I do not think it makes a great deal of difference whether you invest in property,shares,art or whatever,so long as your do your research and are not greedy.
Therefore I think most of us on sharetrader will make sure we can live on our retirement income,whatever it turns out to be.
On the other hand, there a great number of people who can not live within their means.These people reach retirement age with either no house,or a house with a large mortgage.They can not afford to give up work.Life then becomes very hard for them.
So back to how much money do you need to retire on.Depending on where you live,your lifestyle,and health I would say someone living in the South Island with modest requirements could safely retire with a free hold house worth $350,000 and about $300,000 invested returning 5%.For a couple that would be $15,000 from investments plus super of approx. $25,000.
Move to Christchurch your house would most probably be approx. $500,000 and your investments would need to be worth approx. $600,000.
Move to Auckland,your house would most probably be worth $1,200,000 and you would need investments worth close to $2mil.
I am 66 and am still working.This has a huge influence on where you are.My work is the same as having approx. an extra $800,000 invested.I still love my work.

I think there will be a growing trend of retiring folk in Auckland cashing up their homes and moving to the provinces, (crossed my mind already but I'd get bored retiring early).
Can you please explain your thinking on why someone needs more invested capital to retire on in a major city ? Clearly their rates and insurance would be higher than in the provinces but all other costs about the same wouldn't you say ?