Some numbers look slightly high, some numbers look slightly low. However, I do not think that this is all that far off.
For those of us who are older, we might be sitting in a house that we own that back when we bought it cost a lot less than $900,000. However, since most of us who purchase a home need to take out a mortgage, the total that we end up paying over time is significantly greater than the purchase price. What our kids are going to pay for homes, if they ever get to buy one, might be in this range. Of course we also need to pay for electricity and whatever we use to heat the home, and also pay for Internet access (just thought I would add this since we are discussing this using an online site).
The college number looks high, particularly if two kids both stop with a bachelor’s degree (or go on to a fully funded PhD). However, if you include the entire rest of “raising two children” the number might be not so far off.
I have heard a rough estimate that we should be able to take 4% per year from our long term investments without ever running out. 4% of the stated retirement amount comes to about $65,500 per year. This plus two social security payments (one per spouse) might be enough to live on in retirement, but does not imply luxury.
And the vacation number is presumably over an entire lifetime.
I do not think that we will hit the car number over our lifetimes. This number looks high to me. This might be partly due to my aversion to car loans (I drove junkers when I was younger). On the other hand, if you include maintenance and gasoline, again it might not be all that far off.
I think that the overall number is probably not too far off. I expect that it will continue to get greater over time.