How much capital do I need to retire comfortably on ?

[Beagle]

We cannot be really certain for sure, I guess. And it will be at the end of our lives when we get to know whether what we have saved or our capital was enough
or not. So just aspire to get as much above that very low threshold of $1M as per what KW shared on the link above and having passed all the conditions that are given (no debt, an encumbered house, etc). If you're really an investor and have not started rather late $1M is easily attainable.

I agree and see that as a minimum target BUT here's another perspective from some retiree's I know well.

Mary has retired and lost her second husband to cancer many years ago. She lives in Turangi and is actively involved in the community and has very little in the way of retirement savings BUT she makes jams and pickles and knits colourful baby booties with pictures of cute farm animals on top which she sells at the fortnightly markets down there, often to tourists passing through. She makes about $300-400 per fortnight and she lives reasonably comfortably on that and her national super in her unencumbered home there which is basic and not worth much more than $100K but she seems happy enough.

Sylvia lost her husband a few years ago and lives on the National super plus a modest super policy her husband took out many years ago which pays for the monthly management fees, (about $550 a month) in the village she enjoys with a supportive and caring community. Her son manages a very small portfolio which pays her another $60 a week and she seems happy and well able to meet all her bills and travels down to see her extended family in Southland quite often.

Neil and Chris didn't have any money when they retired, in fact due to non existent retirement planning, excessive spending and some unfortunate events they still had a $200K mortgage on their modest Auckland family home. They love animals, (former manager of Animal welfare centre in Auckland), and didn't have enough room for their many different animal's and strays they took in at their home. They traded down to an nice unencumbered 8 acre property in Te Kuiti which cost around $250K from memory and run a full suite of chooks, pigs, sheep, goats e.t.c. as well as domestic animals they love including cats and dogs and seem very content. The bonus is they're close enough to Auckland and have room for their kids to come visit on the weekends and the kids seem to like having a break from Auckland.

Proof that you don't need an absolute fortune to retire on ?

Others I know have converted part of their house into a separate flat and rented it out and seem to be doing fine on one lot of rent plus the Supernanuation.

I wouldn't advocate aiming too low but I think we can all agree that human beings provided they're adaptable are capable of more than one way of skinning this retirement cat.

There's also the point that there's absolutely no guarantee whatsoever that you'll make it to say the age of 70 and even if you do its odds on favourite that you'll enjoy spending that XYZ amount of discretionary spend a lot more in your thirties, forties or fifties than you will in your nineties. Food for thought ? I think a balanced approach is best.

I've probably erred on the side of enjoying it as you go a little too much but you've got to call this thing as you see it.