They are all wrong…depending on where you live. Most of those are solid middle class lifestyles anywhere close to a prosperous city, cost of living being what it is.
Since I’m 74 and our retirement income is comfortable, my ideal amount is fairly high. That said, we exceed that amount because we have zero debt. In today’s market in Portland, this small house would easily fetch $600K alone.
Initially I had forgot to divide by 10. After dividing by 10, I’m well above. Nearly double. if the market had not been punched repeatedly in the nads lately, the I would be at about double.
I am totally picking up what you both are laying down.
I have always done my own investing (passively, as in, ‘contribute to the 401k managed funds, and let the thing grow’), but never really got into detailed research to drive my own train. I just don’t have the time, knowledge, or gumption, but I am following his principles. I see both @Tired_and_Cranky and @Dag_Otto’s points that you don’t want to get into self-serving-sales.
But, I will stand by Dave’s principles in what to do (in laying out some sort of strategy for newbies), but agree with you in making one’s own decisions in how to do it at a certain point. He lays things out for the aimless (i.e. me) in simple, prioritized steps–and I think he even says, “It’s up to you in what to follow. . . these are just my recommendations.” But yup, in some of the later steps, his recommendations in specific investments are not for everybody.
Tripler
Two sides, one coin.