My dad just retired and his retirement account is quite underwhelming, IMO. He isn't a financial schmuck, though, and he doesn't seem to worry about it. When I think about it, though, he has a nice home that is paid off. My mother is still working and has quality insurance. She is an educator and will have a pension upon retirement in a year or two. He has SS income that probably allows him to dip into his very modest retirement savings very little. If/when they choose to downsize, that's another $160k or more in their pockets (they'd have a rent payment each month, obviously). I often read that you should have $500k or $1million dollars put away for retirement and that seems like it'd be great, but depending on how you want to live, you can probably get by on a fraction of that (again, assuming SS and other income is still available).