Hardly a month goes by without financial advice publications (MONEY, Kiplingers, AARP, etc.) running articles about how to prepare for retirement. And, so much of this advice is needlessly complex.
For example, I just read the recommendation for a couple about to retire who had $1,200,000 and who had determined that they needed $5,000 per month, or $60,000 per year, in income to supplement their Social Security. The combined income would enable them to pay what they estimated their expenses to be.