Tony's calculations are wrong because he assumed constant inflation.
There will be periods of deflation, and many think that one is starting now. It also won't be the last.
There will be periods of deflation, and many think that one is starting now. It also won't be the last.
When you're talking about decades of retirement, the compound annual growth rate of inflation is all that really matters.
There isn't clear consensus on inflation/deflation in the near term. While last year saw deflation, a lot of economists think that printing money like we are will cause unusual deflation.