In other countries, it is not illegal for minors to drink alcohol, but the alcohol can be seized without compensation. In some cases, it is illegal to sell or give alcohol to minors. The following list indicates the age of the person for whom it is legal to consume and purchase alcohol.
In all, this means the average American retiree (or those 65 and older) is spending about $3,700 per month -- or about $44,600 per year. Using the 4% rule, that would mean a nest egg of over $1 million would be needed to finance the average lifestyle.
The bipartisan Budget Control Act (BCA) capped discretionary Pentagon spending at $3.9 trillion between 2015 and 2021, an average of 2.6 percent of GDP per year. That means Americans would need to spend $2.1 trillion above the current caps to meet the 4 percent threshold, and $3.6 trillion more to reach 5 percent. For added perspective, then-House Budget Committee Chairman Paul Ryanâs FY15 alternative projected $4.2 trillion for defense, or 2.8 percent of GDP.