$5 million: the new $1 Million?

So says Joel after reading this level-headed discussion of retirement financial advice. Underbelly commentator Chris Mealey* made a useful point a couple of weeks back, discussing "libertarians:"

Unless you have $3 million in the bank (and everybody you care about does too) then social insurance is really important. Taking the safety net away is hardly being left alone.

So: $5 million if you are a mensch; if you just take care of yourself, maybe $3 will do.

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Or is it Chris M. Ealey?