Of course, I can't speak for TJ, but if one needs money to last for 30+ years, they can only safely take out 4% of the initial need and increase that with inflation. 4% of 4.3 million is $160,000. The present value at 3% is around $70,000. If TJ is doing financially well today, there is a great chance that this in not enough money.
Sorry - but, I am laughing wildly. $4.3 million is not enough to retire on in 30 years? I suppose in 30 years, wages will also have gone up a corresponding amount - so I guess the average salary will be somewhere around $500,000 a year. Gasoline will be up in the $10 to $15 per gallon range. The government wll be collecting about $200,000 income tax on that $500,000 salary. Health insurance will be somewhere between $50,000 and $75,000 a year for a family. And, since we have these average salaries of $500,000, a heck of a lot more people will be topping out on their Social Security taxes - which by then will have a salary cap at $300,000 (and at 7.5% times two, you can figure what that means they're going to be having flowing in to the system).
Now, let's get real. Tell me - how many people do you know that have this kind of money? Even in todays dollars? Small wonder that anyone can retire.
Also, in your calculations, you seem to have applied inflation, and increasing your withdrawal with inflation, where are the annual earnings on the $4.3 million? CDs today are pushing up against 5% - that alone would be over $200,000 a year in earnings with no risk.
[This message has been edited by rsinj (edited May 14, 2006).]