Great article Denis! I’d suggest it’s not just unreasonable to rely on a state pension, but imprudent. You have no control over payouts on a state pension. I’m a dual national, entitled to both a US and UK state pension, but I’m not planning to depend upon either. So for years I've invested only for dividends and have also built up a fairly large property business. Each source could support us and this is important, as it’s well known there may be cuts to US state pension (aka, “Social Security”) in the future. Not sure about The UK but it wouldn't surprise me if they cut as well.