Is $1 Million Enough to Retire?

It surely sounds like a lot, but once you do all the math, you might be sadly surprised.

This headline is from a recent popular business publication. The answer as to how much you need to retire can be calculated using the time value of money tools we have covered so far. Your post should describe in detail what steps you would take to calculate the amount needed. Remember to state what time value tools you should use. Once you have posted, you will be able to see what others have included in their steps. Your follow up post should compare your steps with those from someone else and what needs to change in either one to get the correct result.