Hi Tim Dibble,
Thanks for the response. I agree the reason we need rules of thumbs is that our brains are not hardwired to process statistics and long term math problems like retirement planning.
I too, dislike that I can’t feel comfortable discussing these topics without a legal disclaimer (a product of the world we live in).
While the Rule of 25 times should NOT be the central calculation people base their retirement on, what I do like about it is that it gets people thinking about saving for retirement in relation to their spendings.
I think the Rule of 25 times is a good place to start (not end). Most people don’t have the first clue about how to even start thinking about how much money they would need in retirement. This often leads to them saving very little. If nothing else the rule of 25 times can get people thinking (and hopefully saving).
As always your comments are a great contribution to the discussion I appreciate it, Tim.