If you drew down 4 percent of your $1 million nest egg every year, a share many financial advisers recommend as prudent, you would receive about $40,000 annually, before adjusting for inflation--a pretty comfortable salary outside major metropolitan areas, especially if your house is paid off. Of course, how far that $3,333 a month goes depends on your lifestyle, health, and inflation. Here are three viewpoints on the $1 million question:

It's probably not enough. Even at a faster rate of tapping a million-dollar nest egg, Michael Farr, president of the Washington, D.C., investment firm Farr, Miller, & Washington and author of A Million Is Not Enough: How to Retire With the Money You'll Need, thinks it's insufficient for most retirees. "A million dollars in liquid reserves like stocks, bonds, and real estate investments you are not living in will generate $50,000 a year (according to Farr's calculations). After you adjust for inflation it will be entirely gone after about 30 years," Farr says."
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For security, try an annuity. The answer to the million-dollar question seems to depend upon who is asking it. "One million dollars should be enough to maintain living standards for the majority of households, including healthcare expenditures," says Mauricio Soto of Boston College's Center for Retirement Research. "But more might be needed for households that make over $120,000."
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Stop worrying so much, and get out your golf shoes. Most workers aren't even striving to become millionaires. Nearly two thirds of employees think they'll be perfectly fine retiring with less than $1 million, according to the nonprofit Employee Benefit Research Institute. "The financial services industry has made a good living for themselves scaring people," says Jonathan Pond, a financial planner and author of You Can Do It! The Boomer's Guide to a Great Retirement. "For many people, $100,000 to $200,000 is enough to retire on."