[Eridrus]

That's a bit of an odd analysis.

The biggest chunk of my income is eaten up by taxes and rent. Once you've retired and your only income is from long term capital gains, taxes are much less of an issue and hopefully you've purchased a home so you don't need to rent. It also ignores social security, which based on the quick calculator at ssa.gov seems to be not an insubstantial amount, though I get that people don't want to count on that.

On the flip side, it completely ignores inflation which may mean that while your savings may be very large compared to how much you need to live today, they may not be adequate 30-40 years from now.

Without a good estimate for what your expenses will actually be, the number you "need" turns out to be complete nonsense IMO.

[mikestew]

Once you've retired and your only income is from long term capital gains

You'll also likely be drawing down a 401K, and the government wants their deferred taxes back. So capital gains taxes aren't the only tax consideration. Granted, you most likely will in a lower tax bracket come retirement time.