depends on what type of lifestyle you want to live. Not everyone wants to go a 3rd world country where cost of living is ridiculously low. Some people do want the more expensive things in life. Like a really nice car, a house with a view of the sea or lake and the ability to go on vacations around the world. Even the most optimistic bond paying 6 to 7% will only yield 70k a year and that is not counting taxes.
In my opinion better to strive to make 1 million a year than settle down and be comfortable with 1 million in the bank.