This is a conversation had by almost everyone, with many different answers.
Some things kinda overlooked is how you live now.
Are your bills all paid, or do you run expensive CC fees?
Where do you live, the costs, and taxes.
As I can only speak for what's around me,
Ive helped some, buy places in Florida under 100k, and as low as 30k, homestead as primary residence, and take advantage of no state income tax, no tax on SS, and up to 1K monthly per person for Healthcare aid prior to Medicare.
All depends on the lifestyle you want.
Living 1 mile from the beach was 1/4 the cost. Living in 1500 Sq feet is much less than 3000. Having a wife in on a budget saves the most.
Now in my 5th year of retirement, my friends count the days, and discuss if we can bike to a perfect beach, fish, golf, swim and cook more at home, how much are we missing, when we see others saving and working a whole year to visit and do the same?
My friends retire with 20k cost of living per person per year, and others need 100k plus per lifestyle.
It all starts with saving, and Living for less than you earn. Owning a paid for place is a big part.
Oh yes, create a business and enjoy the benefits of many things costing 30% to 50% less.
My 2 cents. It worked for me.
