View Poll Results: Retirement Income as a percentage of working income
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less than 80%
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85 |
72.65% |
80% to 90%
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7 |
5.98% |
90% to 100%
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13 |
11.11% |
100% to 110%
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3 |
2.56% |
110% to 120%
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3 |
2.56% |
Over 120%
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6 |
5.13% |
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03-31-2017, 01:03 PM
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#41
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Thinks s/he gets paid by the post
Join Date: Apr 2016
Location: Dutchess County
Posts: 1,599
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My wages while w@rking were stagnant so I had the same net income for the last 3 years of w@rk.
My current income streams are 89% of my take home w@rking income.
Some months I spend it all and some months I save a bunch.
Life is good.
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03-31-2017, 02:33 PM
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#42
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Recycles dryer sheets
Join Date: Feb 2017
Location: Weatherford Texas
Posts: 456
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Quote:
Originally Posted by Just_Steve
My wages while w@rking were stagnant so I had the same net income for the last 3 years of w@rk.
My current income streams are 89% of my take home w@rking income.
Some months I spend it all and some months I save a bunch.
Life is good.
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I like your take on this: 89% of your w*rking take home pay. Because of a combination of high taxes, savings, and the cost of benefits my after tax take home pay while still w@rking is 57% of gross.
__________________
Retired June 1, 2018
RE AA 65/35
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03-31-2017, 04:05 PM
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#43
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Recycles dryer sheets
Join Date: May 2012
Location: Brewster
Posts: 367
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Retirement as a percentage of working income? Easy - it's 40%. We retired two years ago, so the numbers are fresh. No more Social Security, effective federal tax rate is about 10%, no more maxing out the retirement plans, no more parking and tolls, no more buying lunch, etc. Life is grand.
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03-31-2017, 04:07 PM
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#44
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Posts: 1,636
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Quote:
Originally Posted by mountainsoft
We're planning for 60-70% of our pre-retirement income after retirement. Essentially the same life style we are living now. We could still reduce our spending a bit if it really came to that.
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Not retired yet, but our plan is similar at about 60% at age 62. We're sinking a lot of money right now into college tuition, commuting, and parking for work. My commute is costing me 7-8% of my gross income.
I'm very comfortable with that 60%, but we're working on how not to stay in the rat race until 62.
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03-31-2017, 04:17 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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I used the percentage of income in the last 5 years, before retirement. Not include money in investment accounts that we don't plan to touch. Who cares what they are earning or growing. They don't count yet. The numbers could be off if you retired for a while. But we just retired last year.
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03-31-2017, 06:55 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Hog Mountian
Posts: 2,077
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Keep in mind that the "biblical source" of these 80%(+) figures come from the FA community. It is their vested interest to have folks earning $$ long past the actual need to do so. Your real need is, as most here know, related to your spending as you near retirement. Some adjustments might be less taxes and commuting but higher health care and vacation, etc. For most folks, the 80% figure is hogwash.
__________________
Never let yesterday use up too much of today.
W. Rogers
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04-01-2017, 11:34 AM
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#47
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Recycles dryer sheets
Join Date: Feb 2015
Posts: 60
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Our "income" consists of DW's pension and a withdrawal from my investments. for 2017, this is 34% of our pre-retirement gross salaries. In 10 years, CPP/OAS will boost this to 44%.
But since we are now in a much lower income tax bracket, pay no payroll taxes, no longer have employment expenses, mortgage done, and no need to save for retirement, our disposable income is 125% of what it was pre-retirement.
That will come in handy for travel, home improvements and hobbies.
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04-02-2017, 09:34 AM
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#48
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Thinks s/he gets paid by the post
Join Date: Apr 2013
Location: Ormond Beach
Posts: 1,407
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Quote:
Originally Posted by Pilot2013
Too bad, I was looking forward to hearing what peoples REAL SPENDING has been as a % of income during their working time.
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I agree, all of these current polls miss the mark. I guess the curiosity factor is what's driving them, not relevance.
Start your own.
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04-02-2017, 12:00 PM
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#49
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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I thought that was how I responded to this poll. Somehow all the income from other sources seem to have clouded the poll.
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04-02-2017, 12:54 PM
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#50
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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Income 40%
SWR 20% - 25%
__________________
For the fun of it...Keith
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04-02-2017, 01:00 PM
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#51
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,597
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65%
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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