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View Poll Results: What is, or was, your desired monthly income during retirement? (see text of post)
less than 3000 22 6.96%
3000 - 3999 17 5.38%
4000 - 4999 31 9.81%
5000 - 5999 33 10.44%
6000 - 6999 41 12.97%
7000 - 7999 26 8.23%
8000 - 8999 40 12.66%
9000 - 9999 14 4.43%
10000 - 10999 36 11.39%
11000 - 11999 4 1.27%
12000 - 12999 9 2.85%
13000 - 13999 4 1.27%
14000 - 15999 11 3.48%
16000 - 17999 6 1.90%
18000 - 19999 1 0.32%
more that 20000 21 6.65%
Voters: 316. You may not vote on this poll

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Poll: Target monthly retirement income
Old 11-14-2017, 02:09 PM   #1
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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.
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Old 11-14-2017, 02:10 PM   #2
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What's yours?
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Old 11-14-2017, 02:14 PM   #3
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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.
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Old 11-14-2017, 02:29 PM   #4
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For those with free healthcare, do you include the imputed income?
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Old 11-14-2017, 02:33 PM   #5
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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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Old 11-14-2017, 03:41 PM   #6
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Before or after tax? After-tax, I figure, since that's what you can actually spend?
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Old 11-14-2017, 03:43 PM   #7
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Quote:
Originally Posted by Amethyst View Post
Before or after tax? After-tax, I figure, since that's what you can actually spend?
The OP clearly states after tax.
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Old 11-14-2017, 03:46 PM   #8
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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.
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Old 11-14-2017, 03:47 PM   #9
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Originally Posted by JoeWras View Post
For those with free healthcare, do you include the imputed income?
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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Old 11-14-2017, 03:49 PM   #10
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Quote:
Originally Posted by Meadbh View Post
The OP clearly states after tax.
Oops, missed that.
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Old 11-14-2017, 03:52 PM   #11
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$4750 not counting about 10k extra on vacations a year.
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Old 11-14-2017, 03:54 PM   #12
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Quote:
Originally Posted by Meadbh View Post
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.
Canada, eh? No problem, ignore the request. You are all on equal footing.
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Old 11-14-2017, 04:02 PM   #13
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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.
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Old 11-14-2017, 04:04 PM   #14
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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.
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.
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Old 11-14-2017, 04:39 PM   #15
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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.
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Old 11-14-2017, 04:53 PM   #16
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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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Old 11-14-2017, 05:04 PM   #17
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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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Old 11-14-2017, 05:23 PM   #18
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Quote:
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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?
They were probably thinking, "desired monthly income? Oh yeah, that's going to be high...."
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Old 11-14-2017, 05:29 PM   #19
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Quote:
Originally Posted by W2R View Post
They were probably thinking, "desired monthly income? Oh yeah, that's going to be high...."
Yep, why not desire the max?
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Old 11-14-2017, 05:42 PM   #20
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First post here, Great site! 3k to 4k for me, I try and live fairly simple.
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