View Poll Results: What is, or was, your desired monthly income during retirement? (see text of post)
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less than 3000
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22 |
6.96% |
3000 - 3999
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17 |
5.38% |
4000 - 4999
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31 |
9.81% |
5000 - 5999
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33 |
10.44% |
6000 - 6999
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41 |
12.97% |
7000 - 7999
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26 |
8.23% |
8000 - 8999
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40 |
12.66% |
9000 - 9999
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14 |
4.43% |
10000 - 10999
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36 |
11.39% |
11000 - 11999
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4 |
1.27% |
12000 - 12999
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9 |
2.85% |
13000 - 13999
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4 |
1.27% |
14000 - 15999
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11 |
3.48% |
16000 - 17999
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6 |
1.90% |
18000 - 19999
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1 |
0.32% |
more that 20000
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21 |
6.65% |
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Poll: Target monthly retirement income
11-14-2017, 01:09 PM
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#1
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Recycles dryer sheets
Join Date: Feb 2017
Posts: 75
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Poll: Target monthly retirement income
Monthly retirement income after retirement is such a fundamental number that I thought it would be interesting to see the histogram for this select population. Based on folk's introduction posts, with items like "130k pension" and "5M nest egg", I suspect I get blown out of the water. Anyway, let's see!
Q: What is your planned, or actual, after-tax monthly income for retirement? This includes everything ... nest egg withdrawals, rentals, part time work, the whole kaboodle.
This means household income.
Both pre and post retirees can reply.
__________________
Diagonally parked in a parallel universe ...
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11-14-2017, 01:10 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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What's yours?
__________________
Numbers is hard
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11-14-2017, 01:14 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
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No poll included.... OK--I posted too soon.
Our semi-annual "target" is 2% of portfolio value at 7/31 and again at 1/31.... So far, we aren't paying that close of attention though and don't have a budget; probably will do a retrospective look on the first anniversary.
If portfolio goes down by more than 50%, we'll revisit and think about counting on Social Security.
__________________
OMY * 3 2ish Done 7.28.17
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11-14-2017, 01:29 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Posts: 11,701
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For those with free healthcare, do you include the imputed income?
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11-14-2017, 01:33 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 1,644
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I don't have a target. I try to keep it as low as I reasonably can, subject to discretionary income decisions like ROTH conversions.
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11-14-2017, 02:41 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,566
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Before or after tax? After-tax, I figure, since that's what you can actually spend?
__________________
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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11-14-2017, 02:43 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by Amethyst
Before or after tax? After-tax, I figure, since that's what you can actually spend?
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The OP clearly states after tax.
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11-14-2017, 02:46 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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It's not really a target, it totally depends on the value of my my retirement portfolio on Dec 31 each year.
__________________
Retired since summer 1999.
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11-14-2017, 02:47 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by JoeWras
For those with free healthcare, do you include the imputed income?
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I have no idea what you are asking. Could you please clarify your question?
Where I live, we have universal healthcare. It is not free. It has to be paid for somehow. We pay for it with taxes. Current projections for healthcare spending are CDN$6604 per person for the year 2017. That’s US$5184.80 at today’s exchange rate.
As the OP requested, I calculated my desired monthly income based on lifestyle costs, but excluding taxes. I’m not sure I was “imputing” anything. FWIW, I came up with a figure of US$5000 per month, which is what I desire, though I generally spend less. That figure includes everything except income taxes.
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11-14-2017, 02:49 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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Quote:
Originally Posted by Meadbh
The OP clearly states after tax.
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Oops, missed that.
__________________
Retired since summer 1999.
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11-14-2017, 02:52 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 6,985
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$4750 not counting about 10k extra on vacations a year.
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11-14-2017, 02:54 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Posts: 11,701
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Quote:
Originally Posted by Meadbh
I have no idea what you are asking. Could you please clarify your question?
Where I live, we have universal healthcare. It is not free. It has to be paid for somehow. We pay for it with taxes. Current projections for healthcare spending are CDN$6604 per person for the year 2017. That’s US$5184.80 at today’s exchange rate.
As the OP requested, I calculated my desired monthly income based on lifestyle costs, but excluding taxes. I’m not sure I was “imputing” anything. FWIW, I came up with a figure of US$5000 per month, which is what I desire, though I generally spend less. That figure includes everything.
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Canada, eh? No problem, ignore the request. You are all on equal footing.
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11-14-2017, 03:02 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,975
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Monthly not too much. However I pull out the big stuff - Taxes, Insurance, Vacations and Capital Expenses as a lump sum. The annual budget is all I calculate.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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11-14-2017, 03:04 PM
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#14
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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OK, I used this sentence as my guideline:
Quote:
What is your planned, or actual, after-tax monthly income for retirement? This includes everything ... nest egg withdrawals, rentals, part time work, the whole kaboodle.
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I divided my annual income by 12 to get monthly.
My spending is less than my income, and FIRECalc says I can spend more than my income. So, either of those would have been in a different category.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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11-14-2017, 03:39 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,679
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I didn't count the very erratic cap gain distributions I sometimes receive, only the more steady dividends, monthly and quarterly (divided by 3). Kinda tough to figure out the taxes on only the dividends because the taxes I pay are on all the income. Most of the cap gains are taxed very lightly anyway. It's still well under $3,000 a month.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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11-14-2017, 03:53 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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I am really not sure what people hope to learn from a poll like this? Other than there is a wide distribution of incomes, just like everywhere else? Nonetheless, looks like the top choice is too low given the distribution so far.
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11-14-2017, 04:04 PM
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#17
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,593
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I'd like to see the list of seven members here (so far) that chose "more than $20,000". Are these Boglehead's transferees?
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*********Go Astros!*********
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11-14-2017, 04:23 PM
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#18
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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They were probably thinking, " desired monthly income? Oh yeah, that's going to be high...."
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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11-14-2017, 04:29 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Quote:
Originally Posted by W2R
They were probably thinking, " desired monthly income? Oh yeah, that's going to be high...."
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Yep, why not desire the max?
__________________
Numbers is hard
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11-14-2017, 04:42 PM
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#20
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Dryer sheet wannabe
Join Date: Jun 2017
Posts: 22
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First post here, Great site! 3k to 4k for me, I try and live fairly simple.
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